Laserfiche WebLink
<br />WHEREAS, none of the allegations (other than Count 7) involve use of tax increments for <br /> <br />an improper purpose; and <br /> <br />WHEREAS, the City admitted the erroneous expenditure described in Count 7 and <br /> <br />promptly repaid the amount at issue; and <br /> <br />WHEREAS, the City does not have available revenues to food substantial repayments to the <br /> <br />County and that such repayments would work an undue hardship on the City of Centerville; and . <br /> <br />WHEREAS, the parties recognize that the City acted in good faith and that noncompliance <br /> <br />by the City is primarily due to technical deficiencies in TIF plans and/or documentation, where <br /> <br />there is a lack of specificity in the TIF statute itself; and <br /> <br />WHEREAS, the City and County wish to resolve the dispute between the parties in order to <br /> <br />avoid the costs and delays associated with protracted litigation. <br /> <br />NOW, THEREFORE, it is hereby stipulated and agreed as follows: <br /> <br />SETTLEMENT AGREEMENT <br /> <br />1. The above Recitals are incorporated herein as if restated in full. <br /> <br />2. That the City has paid $44,495 to the County in return for unauthorized land acquisition <br /> <br />expenditures. <br /> <br />3. The City will designate a person to be the responsible party for administration and <br /> <br />implementation of TIF procedures. If the City uses the services of a financial consultant, <br /> <br />the City will contract only with fiscal consultants and advisors known to be <br /> <br />knowledgeable in TIF. <br /> <br />4. The District Court may dismiss the above-captioned matter pursuant to the proposed <br /> <br />Order attached herewith without further hearing or notice to any of the parties, each <br /> <br />party to pay its own costs, disbursements and attorney fees. <br /> <br />PAC-229845v2 <br />CE155-18 <br /> <br />4 <br /> <br />/1 <br />