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� �i�]E_N�HILLS I►� I�!u r1];7�.1 �I�l►� I DATE: March 28, 2011 TQ: Patrick Klaers, Caty Administrator FROM: Sue �verson, Director af Finance and Adtninistrative Services SUSJECT: Financial Planning & Analysis Committee {FPAC) The coxx�.mittee last met with �Iie City Cour�cil at a worksession in November 2009 to talk aboui various funcling mechanisrrzs avaiiable to the City for prajects. One of the projecis that FPAC has been working on the last year is to de�elop a policy or guideline an the us� of Tax Increment Finaz�cing (TI�} and how muc� of the Ciry's tax basc should be included in TIF. The committee has worked very hard and has done a iremendous amaunt of research to create a "White Paper" on this subject. They feel thai they are now at a point vcrhere they need a discussion with the Ciiy Council on what they have pxoduced thus far before they bring the Economic Development Cammittee {EDC) in on the discussioz�. That being said, th� FPAC would like to invite the City Council to attend their next r�eeting on April 12, 2011 at b:flQ p.m. The City Council will receive a copy of ihe "White �aper" as well as a copy of the FPAC packet with their packets this week.