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The utilization of funds for debt service payments within Districts #1 and #2 will essentially <br />spend all available revenues in these districts for the next four to five years. TIF District No. 2 is <br />a very active district and there is still more redevelopment needs within the City that need to be <br />addressed. In addition to not being able to participate in acquisitions, the City would not be able <br />to provide assistance to future projects in the TIF Districts. The decision to utilize TIF Funds for <br />the Boike purchase would be absolute and it would all but end City assisted development and <br />redevelopment activities within TIF Districts 1 and 2. <br /> <br />Recommendation: <br /> <br />Based on discussion. <br /> <br />Council Action: <br /> <br />Based on discussion. <br /> <br />Reviewed by: <br />Finance Officer <br />Economic Development Coordinator <br /> <br />FC: 06/27/06 <br /> <br /> <br />