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31 POLICY OBJECTIVE <br />32 By preserving the City's ability to create a new redevelopment TIF district within the Twin <br />33 Lakes redevelopment area in the future, the City is maintaining the broadest set of future options <br />34 related to TIF within the Twin Lakes redevelopment area. <br />35 BUDGET IMPLICATIONS <br />36 There are no budget implications resulting from this action. <br />37 STAFF RECOMMENDATION <br />38 Staff recommends that the City Council find ten of the sixteen buildings within the boundaries of <br />39 existing TIF District No. 17 structurally substandard. By finding these buildings substandard, the <br />40 City Council is preserving its ability to create a new redevelopment TIF district within the next <br />41 three years. Please note, that at this time, staff is not requestin� the creation of a new district, but <br />42 is requestin� onlv that the Council make a new findin�s in order to keep the full arrav of options <br />43 available to the Citv. <br />44 REQUESTED COUNCIL ACTION <br />45 By resolution, find the parcels identified in Exhibit A meet the 70 percent coverage requirement <br />46 and buildings, as listed on Exhibit A of the resolution, are structurally substandard. <br />Prepared by: Jamie Radel, Economic Development Associate <br />Attachments: A: Memorandum from LHB, June 9, 2009 <br />B: Draft Resolution <br />Page 2 of 2 <br />