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<br />. <br /> <br />. <br /> <br />. <br /> <br />CASE #3: <br /> <br />REQUEST BY MR. ART RAUDIO FOR CITY PARTICIPATION <br />(TAX INCREMENT REVENUES) IN FLINTWOOD HILLS SECOND ADDITION <br /> <br />Background: <br /> <br />Mr. &audio is requesting City participation in the form of tax increment funds <br />to assist in site improvements (soil corrections, dewatering, etc.) for future <br />phases of development of the Flintwood Hills Second Addition P.U.D. Mr. &audio <br />is requesting that the City participate in approximately $105,000 of site <br />improvements. <br /> <br />According to the City's policy regarding City participation with tax increment <br />funds, the Economic Development Commission reviews all such requests with <br />respect to: <br /> <br />- will the request lead to an increase of full-time permanent employment <br />opportunities in the City? (if applicable) <br /> <br />- will the request allow the expansion/retention of a local business? (if <br />appl icab Ie) <br /> <br />- will the request lead to the development of certain public improvements <br />which will, in turn, attract additional future private development? <br /> <br />- will the request encourage/assist future development in the area? <br /> <br />- will the request increase the tax base of the City? <br /> <br />Enclosure 3 contains a letter with attachments dated April 22, 1986 from Art <br />&audio. <br /> <br />Observations: <br /> <br />According to existing legislation, the City's Bond Counsel has determined that <br />the City may use tax increment funds to participate in site improvements. <br />Also, in late 1985, the City Council approved a request to use tax increment <br />funds to participate in site improvements (grading, ponding, landscaping and <br />fencing) for the Churchill Estates apartment project in the Oxbow <br />Addition. <br /> <br />On May 6, 1986, the Planning and Zoning Commission reviewed Mr. Raudio's <br />request and recommended that the City participate. <br /> <br />Recommendation: <br /> <br />Commission Action: <br /> <br />Recommend approval of Mr. &audio's request for City participation in site <br />improvements contingent upon the City Engineer verifying cost estimates. <br /> <br />Review Checklist: <br /> <br />Administrator <br />Attorney <br />Engineer <br />Community Devel. Dir. <br /> <br />...x <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Super. <br />Bond Counsel <br />p & Z Commission <br /> <br />...x <br /> <br />J <br />J <br />