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10/9/2019 <br />Administration <br />VIII.1.a <br />Block 7 Housing TIF District - Resolution 19-0XX Establishing TIF District 1-8 <br />If the Council wishes to continue negotiations with Trident Development with an offer of Tax Increment <br />Financing assistance, the next step would be to "establish" the district. The final step of "certifying" the district <br />would come at a later date, once a more formal and detailed developer's agreement can be negotiated. <br /> <br />Work up to now, by Northland Securities and city staff has established that a Housing TIF District is feasible, <br />justifiable and lawful. Additionally, a public hearing will be held and input from residents will be heard. <br />Considering all of this preliminary information, the Council should decide if it wishes to establish the TIF <br />district or if it wishes to either pursue other financial incentives or a deal without financial incentives. Staff is <br />recommending the use of TIF as the most cost effective and feasible means of completing this project. <br />$1.35 Million - Tax Increment (City/County/School Dist taxes produced by new construction) <br />Motion to adopt Resolution 19-0XX Establishing Centerville TIF District 1-8. <br />77 <br /> <br />