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CITY OF CENTERVILLE <br />REQUEST FOR <br />COUNCIL ACTION <br />Agenda Item # Department: Requested Council Meeting Date: <br />October 11, 2023 <br />Administration <br />IV.1 <br />TITLE OF ISSUE: <br />Intro to Tax Increment Financing - Tammy Omdal - Northland Public Finance <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />It has been several years since the City Council has discussed the financing mechanism, known as Tax <br />Increment Financing (TIF). Some members may never have dealt with it. Before the Council is asked to <br />decide on whether or not to utilize this tool, staff wanted to give the Council a refresher (or an introduction) to <br />the topic. Given the complexity of TIF, we've asked our financial consultants, Northland Public Finance (NPF) <br />to come in and help explain it. <br />Tammy Omdal from NPF will give a presentation on TIF and stand for questions. The presentation will not be <br />project-specific. <br />COST AND SOURCE(S) OF FUNDING: <br />N/A <br />REQUESTED COUNCIL ACTION: <br />Presentation and discussion only. <br />For ClerkÓs Use: <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: ____________________________________ <br /> Resolution Ordinance Contract Minutes Plan Map <br />Second By: ____________________________________ <br />Vote Record: Aye Nay <br />_____ <br />Power Point Presentation <br />Other (specify) ____________ <br /> _____ _____ <br />___ <br />_______________________________________________________________ <br />_____ <br /> _____ <br /> _____ ____________________________________________________________________ <br />Administration Department Use: <br />Refer to: _________________________________ <br />Consent <br /> Tabled Until: ______________________________ <br /> Regular <br /> Other: ___________________________________ <br /> <br />