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L REQ�[7EST FO� COUI�CYL ACTION <br />2 <br />3 Da�e: i 0/22/2007 <br />4 Zt�zn No: S.g <br />b Departznen� Approval: Manager Appxaved: Age�da Section: <br />� �`. �� � ����X.a.�. �...�.a Canseni <br />9 T�em Description: Esiablish a Pui�Iic H�aring to Consider t�� Ex�ensio� of Tax Increrrmen� <br />l 0 Financin�; Distz-ict #1 - Centr� Pointe <br />11 <br />12 <br />13 <br />14 <br />�S <br />ib <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />�7 <br />38 <br />39 <br />40 <br />Sackgran�d <br />Previously on Octaber 8`�' and again on October 15`h, the Council r�ceived a m�mo frozn Staff <br />whzch outlzned a po�icy question on wl�eih�r the City should coz�sider exte�dxng Tax Incre�ent <br />�'inance (TIF) Dis�rict # 1- Ce�atre Pointe, for an additianal 2 yeaxs. A copy of the me�no is <br />attached. <br />To extend a T�F Dis�ric�, the C�t� is required �o do the follawing: <br />1} Aznend the TT�' District Plan <br />2} Provide 30-days noti£'ication to all other taxing jurisdictions <br />3) Hold a publie �earing <br />By this rer��ested counc�l action, we hope tn irr�press upon the Cou.ncil the s�nse nf �rgency iz� <br />malcing a decision on this matter. We had haped to frame up tl�is policy question quite some <br />time ago. Hn�ever, as tkze Couzacil is aware tl�e City recently underwext multiple cha�ges in <br />em�loyee positior�s tha�t play a�cey rale in this area. We were somew�at reluetan� to frarr�e �p <br />tlais policy issue wi�haut these key individuals. Unfortu�a�ely we car�not vvait any langer. If t�e <br />Council wishes io preserve the optian of extending tl�e TTF Distarict, it must give Staf� dixec�ion <br />at today's City Couneil Yneeting, <br />The �.rgency ster�s fra�n t�e fact that ihe City must take �o�al action t�Zis year. Our last <br />scheduled Caunci2 rnee�ing is December �7��', whzch represents the last c�ay w� can hQld a public <br />hearing. Moviza� �iackvvards fram this �ate, the City needs to pravicle at leas� 30-days <br />noti�ica�ion to the other taYing jurisdictions, wh.ic� sets us back ta November 16t�'. This <br />notificatioz� must include a Iega1 and finaneial aa�alysis supplernentied by a draft amer�dment to <br />tlie TI�' Plan. This process tak�s 3-4 wee�s which plaees us bac1� to October 2�th. I� nt�er <br />woxds, �ve r��st begin �his process no later than the week of Octnber 22"�, <br />