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In"D <br />QUEST FOR COUNCIL, ACTION DATE** 12-17-90 <br />ITEM NO,: <br />Depart, �nt Ap]pr,qval: Manager Reviewed: Agenda Section <br />Hearing <br />0 10 - <br />Item D,esicri onO Resolution approving the modification of ta <br />a <br />71 increment f inanc ing plans for tax incremen <br />f qi 41 <br />117 A6 11 *1-120 <br />aftnanc`i ng di, s t"wo 4 co b.* <br />ze: 0 �OLI <br />At the, Declember 10,, 1990 City Council meeting., the Colt <br />t <br />modified its overall municipal development district througl <br />overlaying port authority, and HRA powers on the existin <br />d, istri,ct. <br />2, The City Counc 1*1 has -orieviously formed tax incremen <br />Ah. <br />01 <br />district #1,2 which, was developed for NCR,. This district, a <br />0 <br />well as the cost, depicted for districts #1-12, need to b <br />mo e e <br />dified to rflct the new proposal., •I <br />3a The original plan depicted $1,,560,,000 'in expenalrures', <br />howevieri, it was oriented towards the purchase of the land, <br />demolition, of the school, and modification of a sewer line. <br />'The amendment reflects the actual project before the City, <br />Is 1i <br />ThiLS, is not an 'increase in, cost, it s*mply reflects the land <br />40 <br />purchase and rehabilitation expenses. <br />