2A, TIF White Paper - Laserfiche WebLink

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'It EN HILLS MEMORANDUM DATE: April 16, 2012 TO: Honorable Mayor and City Councilmembers FROM: Patrick Klaers, City Adminis at j SUBJECT: TIF White Paper G` Backtiround/Discussion In early 2010 the Financial Planning and Analysis Committee (FPAC) Chair and the Council Liaison identified a list of issues for the FPAC work plan. Attached is this list of issues. The goal to develop a "TIF policy as to what maximum percentage of the City should be in a TIF district" was one of the major agenda items for FPAC from October 2010 through April 2011. This FPAC work resulted in the TIF Selection Process Whitepaper. This Whitepaper was the topic of discussion at a joint FPAC and City Council meeting on April 12, 2011. Attached are the April 12, 2011 meeting minutes and the Whitepaper draft dated April 12, 2011. The Economic Development Commission (EDC) discussed the Whitepaper in June and in August, 2011. The minutes from these EDC meetings are attached. At this time the TIF Selection Process Whitepaper, as drafted by FPAC, is on the City Council work session agenda for discussion. Several FPAC members will be attending this work session to explain the Whitepaper project and to answer questions. Staff is looking for direction as to how to proceed with this Whitepaper. If the Council is only looking for a maximum percentage of the City tax capacity that should be in TIF districts, staff is very comfortable in doing an analysis and making a recommendation. On the other hand, if the Council is looking for a formula or a matrix that ranks preferred factors based on Council priorities to be used to evaluate applications for TIF, then staff would recommend that the City hire Ehlers for this project. City Council Meeting P:\Admin\Council\Agendas&Packet Information\2012\04-16-12 Wk Sess\Agenda Page i of 2