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issue with staff she was assured that the TIF would not be transferred if the property owner is <br />transferred, but the new draft of the settlement agreement permits the TIF to be transferred. <br /> <br />City Attorney Goodrich noted that ACCAP had requested that change. <br /> <br />Councilmember Anderson replied that ifACCAP chooses to sell the property she has no problem <br />with that, but the TIF should not go along with the property. <br /> <br />City Attorney Goodrich stated that if ACCAP develops a single-family housing project they <br />would have to sell them to individual property owners so, therefore, the TIF would have to be <br />transferred. <br /> <br />Councilmember Anderson stated that ACCAP asked for TIF to create an affordable townhome <br />project, but if they sell the property to another property owner then she would not be in favor of <br />using TIF. ' <br /> <br />City Attorney Goodrich noted that AcCAp would not receive any TIF funds unless the project <br />was constructed. <br /> <br />Councilmember Hendriksen stated that the settlement agreement does not limit the project to a <br />townhome project so ACCAP could construct a number of single family homes, which would <br />then be tax exempt except for the lot tax. <br /> <br />Councilmember Anderson stated that she would be more comfortable with removing the <br />language "without loss of tax increment financing" from item #4. <br /> <br />City Attorney Goodrich noted that if the City enters into a TIF agreement with ACCAP, they <br />would have to construct the project as agreed to by the City. <br /> <br />Councilmember Zimmerman stated that creating the TIF district is taking money away from the <br />existing landowners because they will have to subsidize children from this housing district. It <br />takes a family having a mother and a father both working and asking them to pay more taxes. <br />For that reason he cannot vote in favor of the settlement agreement. <br /> <br />Councilmember Kurak stated that one of the other options presented to the Council was rezoning <br />the property along T.H. #47 to multi-family residential and since the TIF issue is causing so <br />much concern she suggested that the Council consider rezoning the property which would not <br />cost the City any money. <br /> <br />Councilmember Hendriksen inquired if the rezoning was contrary to the Comprehensive Plan. <br /> <br />Community Development Director Frolik replied that the current Comprehensive Plan identifies <br />the property as single family residential and commercial. <br /> <br />City Council/July 24, 2001 <br /> Page 9 of 24 <br /> <br /> <br />