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CC Regular Session <br />Meeting Date: <br />Primary Strategic Plan Initiative: <br />5. 7. <br />11/25/2025 <br />Title: <br />Adopt Amended Policy for the Reimbursement of Land Proceeds and Tax Increment for Tax Increment Financing <br />Area #14 - COR <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 />Notification: <br />Was brought to the City Council worksession of November 10, 2025, and there was agreement to bring it forward <br />for final approval. <br />Recommendation: <br />Staff's recommendation is to adopt amended policy. <br />Outcome/Action: <br />Motion to adopt amended Policy for the Reimbursement of Land Proceeds and Tax Increment for Tax Increment <br />Financing Area #14 - COR. <br />Policy for Reimbursement Amended <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 11/20/2025 12:34 PM <br />Form Started By: Diana Lund Started On: 11/12/2025 11:06 AM <br />Final Approval Date: 11/20/2025 <br />