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<br />10 Minutes <br /> <br />CASE 410: <br /> <br />DlSCDSS FOLlCY RmARDl~ TAX lNCRmrtENr FlNANCIR; <br />By: Dave Bartley, City Administrator <br /> <br />Background: <br /> <br />The City policy for tax increment financing as established by Resolution <br />#87-213 identifies several permissible uses for tax increment funds. Among <br />these uses are site irnprovanents, public utilities, public streets, and land <br />wri te-downs. <br /> <br />Further, the pol icy points out that some uses may have a more di reet benefit to <br />the public than others depending on when and where the use is permitted. <br />Therefore, Staff asks that the Cotmcil discuss the following assumptions: <br /> <br />1) Site irrprovanentsshould be used to assure quality developnent, retain <br />business/industry, mitigate blight, or to encourage developnent 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 />redevelopnent, or to correct incompatible uses. <br /> <br />Recamnendation: <br /> <br />Council action will be based on your discussion. <br /> <br />Review Checklist: <br /> <br /> <br />Administrator ~ <br />Attorney <br />Engineer <br />Community Developnent Director L <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />other <br /> <br />?h <br />