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CC Work Session <br />Meeting Date: <br />Primary Strategic Plan Initiative: <br />2. 4. <br />11/10/2025 <br />Identify and implement operational efficiencies, cost savings and additional <br />funding sources. <br />Information <br />Title: <br />Policy for the Reimbursement of Land Proceeds and Tax Increment for TIF Area #14 (COR) Amended <br />Purpose/Background: <br />Purpose: To amend a policy that outlined how land proceeds and tax increment would be applied when funds <br />were received to pay back the City for the funds it has expended in the COR area. <br />The original policy was adopted at the regular City Council meeting of June 10, 2014. With the passing of the <br />Special Legislation in 2025 and the expenditure of additional City Funds in the COR area, the policy needs to be <br />amended. The improvement of County 116 was also calculated into the totals of the policy of 2014 and this <br />project has not sufficed. <br />Time Frame/Observations/Alternatives: <br />10 minutes <br />Funding Source: <br />Future land proceeds and tax increment generated in the COR area. <br />Recommendation: <br />Review of amended policy. <br />Outcome/Action: <br />Review of amended policy to bring to future City Council meeting for adoption. <br />Policy for Reimbursement from June 2014 <br />Policy for Reimbursement Amended <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 11/06/2025 12:38 PM <br />Form Started By: Diana Lund Started On: 10/24/2025 12:01 PM <br />Final Approval Date: 11/06/2025 <br />