Laserfiche WebLink
falls into line with the Comprehensive Plans. It is also listed as a "place to work" and developers <br />are expressing interest in redeveloping that parcel. Establishment of TIF District No. 8 will <br />allow the City to construct infrastructure such as street improvements, sanitary sewer, water <br />mains, and storm drainage systems and it reimburses itself through tax increments generated by <br />the new development. <br /> <br />Commissioner Kociscak inquired as to how tax increment financing works. <br /> <br />Community Development Director Frolik gave a brief overview. <br /> <br />Commissioner Kociscak inquired as to how long a TIF district is in place. <br /> <br />Commissioner Johnson explained that it is a changing time frame, but is something that is <br />heavily used and has become a very significant development tool for cities. <br /> <br />Commissioner Kociscak inquired as to what would happen if a city were to invest a million <br />dollars and then have the property owner go in default. <br /> <br />Commissioner Johnson explained that if the property owner defaults on his taxes then the <br />property is forfeited. Typically, a city does not spend the money unless they have the confidence <br />that the district will be successful. - <br /> <br />Motion by Commissioner Johnson, seconded by Chairperson Nixt, to adopt Resolution #00-11- <br />__ modifying Tax Increment District No. 2 and establishing Tax Increment District No. 8 and <br />authorizing the Chairperson to sign said Resolution on behalf of the Planning Commission. <br /> <br />Motion Carried. Voting Yes: Chairperson Nixt, Commissioners Johnson, Kociscak, and Reeve. <br />Voting No: None. Absent: Commissioners Griffiths and Wivoda. <br /> <br />Case #11: Monthly Status Report <br /> <br />Noted. <br /> <br />Case #12: Zoning Bulletin <br /> <br />Noted. <br /> <br />COMMISSION INPUT <br /> <br />a) Appointment to Chapter 9 Subcommittee to Replace Chris Dempsey <br /> <br />Consensus of the Commission was to address the issue at the next Planning Commission <br />meeting. <br /> <br />Planning Commission/November 6, 2000 <br /> Page 20 of 21 <br /> <br /> <br />