Laserfiche WebLink
Your action will be to approve /disapprove the establishment of <br />' Development District No. 1 and its Development Program and the <br />establishment of Tax Increment Financing District No. 1 and its plan. <br />Unanimous consensus of the Council is required to dispense with the <br />reading of the proposed resolution. The following proposed motion is <br />hereby submitted for your consideration: <br />Motion by and seconded by to ado t <br />Resolution #85- approving the establishment of Develo p <br />District No. 1 and the Development Program o ant <br />nd <br />establishing Tax Increment Financing thereto <br />i g D strictNo1 1 and <br />' approving the Tax Increment FAncing Plan relating thereto. <br />Please refer to resolution file for Resolution #85-_ <br />' Further discussion: <br />Motion carriecVfailed. Voting yes: Voting no: <br />The City Council conducted a public hearing on the Development <br />Pr ram and Tax Increment Financing Plan for District No. 1 <br />on July <br />9, 1985. As you recall, at your July 23, 1985 meeting, you tabled <br />this matter until the <br />August 27, 1985 meeting. Ms. Arlin Waelti, <br />Bond Counsel, will be at this meeting to answer <br />' <br />have. any questions you may <br />The proposed Development District No. 1 is that area of the City <br />designated as the "1990 <br />Urban Area" and within that area, Tax <br />Incremnt Increment Financing District No. 1 is <br />proposed to include <br />the plats of River's Bend, Flintwood Bills Second Addition and Oxbow <br />Addition. <br />' <br />The cash flow analysis assumes the development of River's Bend and <br />Flintwood Bills Second Addition <br />at a low growth rate - one third (96 <br />homes) of the total homes will be developed over the next five <br />Also, this <br />years. <br />cash flow does = consider any development occuring in <br />the Oxbow Addition. <br />' <br />The proposed Development Program and Tax Increment Financing Plan do <br />not commit the City to any <br />particular project. The ado of <br />this <br />document simply establishes the Development District <br />' <br />n d Tax <br />Increment Financing District - and both district may be <br />by <br />Council action at any time. Once the City Council establishes the <br />districts, they can be <br />certified by the County and State. <br />' <br />Both the Planning and Zoning and Economic Development Commissions <br />have reviewed the <br />proposed Development Program and Tax Increment <br />Financing Plan and corresponding districts. <br />Enclosure (D2 -h) contains the following information for your <br />consideration: <br />a) Proposed Development Program and Tax Increment Financing <br />Plan <br />' <br />b) Proposed resolution adopting Development Program and Tax <br />Increment Financing Plan <br />and establishing Development <br />District No. 1 and Tax Increment Financing District <br />' <br />No. 1 <br />cn„ruil Action <br />Your action will be to approve /disapprove the establishment of <br />' Development District No. 1 and its Development Program and the <br />establishment of Tax Increment Financing District No. 1 and its plan. <br />Unanimous consensus of the Council is required to dispense with the <br />reading of the proposed resolution. The following proposed motion is <br />hereby submitted for your consideration: <br />Motion by and seconded by to ado t <br />Resolution #85- approving the establishment of Develo p <br />District No. 1 and the Development Program o ant <br />nd <br />establishing Tax Increment Financing thereto <br />i g D strictNo1 1 and <br />' approving the Tax Increment FAncing Plan relating thereto. <br />Please refer to resolution file for Resolution #85-_ <br />' Further discussion: <br />Motion carriecVfailed. Voting yes: Voting no: <br />