Correspondence 1988 Waldron - Laserfiche WebLink

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� M E Id 0 R A N D U P9 DATE: February 10, 1988 T0: Jim Andre ' FROt�i: Crai � g A. Waldron l/U'r'J� RE: cc: Proposed Tax Increment Legislation Ed Burrell As the legislative session commences, the usual assault on Tax Increment is also beginning. Senator Reichgott is proposing a bill that is deemed to be non-controversial. During the next session, the "controversial" elements ot tax increment would sui�sequently be addressed . The problem with Reichgott's view of what is non-controversial, is that these i.tems cvere offered as compromise positions when major legislative modifications were moving toward substantial changes in the law itself. The iter�s in Reichgott's bill entail tY�e following: 1. Making the use of non-contiguous districts more difficult. 2. Requiring that the plan be submitted to the county board and school districts thirty days oefore final considera�ion on the part of the city. 3. �he plans must have solid data, depicta.ng what the "but for" determination involved. 4. Acquiring much more documentation with respect to the reasons and facts for certi�ying the redPvelopment district. 5. Ne�a redevelopmc:;�t districts would be Iimited to twenty years. 6. Redevelopment districts c�ualifying as a result of soil on terrain problem5, can only use tax increment �o correct the actual soil deficienci��. 7. Ir� a h4usfng project, at least one r�alf of the incr�ments must be used for housings and no other uses . 6. Increments cannot be used f4r the acquisition, operation or maintenance ot a build�ng used primaril and regu��rly for conducting the business of a municipality. "