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CASE ~5: <br />10Minutes <br /> <br />DIS(~SSPOLICYRMGARDINGTAX INCREMENT FINANCING <br /> By: Dave ~artley, City~~m~nistratOr <br /> <br />Background: <br /> ~t~ n~licv for tax incr~nent financing as established by Resolution #87- <br />The ~ ~ r-. .~ . . <br />213 identifies several permissible uses for tax increment funds. Among these <br />uses are site improvements, public utilities, public streets, and land write- <br />do~s. <br />Further, the policy points out that some uses may have a more direct benefit to <br />the public than others depending on when and where the use is permitted. <br />Therefore, Staff asks that the Council discuss the following assumption~ <br />regarding the use of tax increment funds: .__ <br /> <br /> 1) Site improvements should be used to assure quality development, retain <br /> business/industry, mitigate blight, or to encourage develol=nent which <br /> is consistent with the City's Comprehensive Plan. <br /> <br /> 2) Construction of utilities should be funded when the benefit is clearly <br /> public. <br /> <br /> 3) Construction of roadways and bridges should be funded when the benefit <br /> is clearly public. <br /> <br /> 4) Land write-downs should be funded to mitigate blight, to encourage <br /> redevelopment, or to correct incompatible uses. / <br /> <br />P~co~mL~_ndation: <br /> <br />Council action will be based on your discussion. <br /> <br />Review Checklist: <br /> <br />Administrator X <br />Attorney <br />Engineer <br />Community DevelounentDirector X <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />Other <br /> <br /> <br />