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; ity, C'olunci <br />1 <br />Pq <br />A description, of these proposed, areas of expenditures pis very mu <br />like,, those outlined in the February' Ir 1992 memo to CitV Council <br />MZR a <br />Ci*ty staff has reviewed thi <br />S i,nce priesentat, ion of that concept, <br />0 <br />proposal and, various otherialternatives, and finds this to be th <br />I1 ost advantageous to, the City at this time. I <br />We fee,il that <br />this <br />prp osied policy speaks to the or 16ginal <br />P <br />i nten't of <br />those on, the <br />city <br />Counc 1`1 who init 11'ated the original Tax <br />Increment <br />Fi.nanc ing pr,ocrram <br />while at thei same time meeting the current needs <br />of the Ci <br />"i The <br />t. IN 6 <br />program is, f iscally con,seirva ive in its <br />approach <br />by setting <br />as ide <br />money in rieserve and aliso for the <br />eventual <br />replacement <br />of any new facilities constructed with these <br />funds. <br />The hopei would bile, that the Clity Council would direct the staff to <br />11 <br />prepare a policy, for formal adoption by thei City Council at an up- <br />41 '01 <br />,coming meetingw If any additional information is needed prior to <br />V <br />thati date,, please liet me know at your conveniencee <br />