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<br />. <br /> <br />Creation of a Municipal Service District <br /> <br />Acceleration of tax increment payments resulting in the TCAAP tax increment district being <br />decertified at an earlier date. After the decertification of the district, the City's general fund <br />will receive all TCAAP City portion project taxes to pay for local services. <br /> <br />Developer contribution. <br /> <br />Conclusion <br />The EDC, on a vote of 7 to 0, recommends approval of the attached "TCAAP Public Financing Plan". <br />The commission views that the TCAAP project will not happen without public assistance, especially to <br />achieve the concepts of the City's TCAAP Framework Vision and to surmount the challenges associated <br />with redeveloping and marketing a superfund site. The recommended policies assume that the City will <br />put into place all necessary administrative struetures to monitor the use of public financing and to create <br />an agreement that will not negatively affect the taxpayers of the conununity. <br /> <br />. \\Earth\Planning\Misc Files\EDC\executive summary.doc <br /> <br />. <br /> <br />\\Earth\PlanninglMisc FileslEDC\executive summary. doc <br /> <br />Page 5 of5 <br />