Laserfiche WebLink
1 <br />z <br />3 <br />REQiTES'lC �'OR COUNCIL AC�"ION <br />Date: 12/17/200"1 <br />4 Ii;em No: �O.a <br />G'� <br />7 <br />Department Approva�: <br />�� � �� <br />Manager Approved: r Agenda Sec�ion: <br />Public Hearin�s <br />9 Item Descriptian: Consic�er the E�tensian o�Tax Tncxem�e�t Financang Distrzcf #1 - Centre <br />T Q Pointe <br />1� <br />IZ <br />� 3 Sackgrounc� <br />14 On Octobex 22, 2007 �h� City Council estabTished a pubiic hearing to consider extending T� <br />Z5 Inct•eme��ti Finance (TTF) Dis�rict #1 � Centre Point�, �ar an additionai 2 years. The putpose for <br />16 the extension is to �stablish an addrt�onai fiu�din�; option ta facilitate env�ronrnental remediatior� <br />17 and tlie installa�ian of public iz��rastructure in the Twin La�Ces Red�velopm�nt Area, whieh is <br />1 S rrr�mec�iate�� adjacent to Centre Pointe. <br />19 <br />20 TT�' Dis�rict #1 was crcated in I982 at a tirz�e w�en there existed �'ar greater discr�tion xr� �k�e nses <br />21 af T�F co�'zpared to far�ay — ir�c�uding tl�e ability to use the increar�ent outside of tl�e District <br />22 boundaries such as Twzn Lalces. Sinca �.982, f.he Legisiature has on nun�eraus accasiQns placed <br />23 greater restriciio�s o� the uses af TIF. However, because it was ereated priar �o t�ese cha�ges, <br />2� TIF D�s�rict #� is laxgely gr�ndfathered in and th�refare has retain�d rr�ost of its flexibil'rty �n <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 />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />uses. <br />Accord'zng to the City'� Bond Co�tns�l, Bziggs azad Mprgan, aftex a�end.ing the TI�' Plan, <br />inerernents received fronn TI�' Distriet #1 in 20Q$ a�d 2009 can be generally used as foilows: <br />�i <br />i <br />i <br />■ <br />�� <br />�. <br />� <br />Envir�nmental rernediatian <br />Installation af rnads, uiiiities, sidewalks, and parking facili�ies <br />Praperty acquisitia� a� pxoperties co�taining struc�urally substandard buildings nr <br />�azaxdous substances/pollutants/cantaminanis; or far th� puz�os�s of asse�bling a large <br />enaugh site �ar develop�ent <br />Derna�itian at�d xehabilitation of struct�res <br />Housing assista�ce / interest reductian program for low and moderate incorne housing <br />Park�ng structures <br />Administrative expez�ses such as i�gal, �nancia� analyses, etc. <br />Uses that are specifically prohibited include: <br />❑ Faeilit'res used for social, recrea�ional, pr confexence purposes (exaept for pri�ately- <br />43 owzaed facilities or parki�ag structures) , <br />44 ❑ Commons area u�ed as a pub�zc park or gathering �lace <br />45 C9 B�ildings used pri�arily for conducting the busines� oi tl�e muziicipaiity, i.e. City Hall, <br />A�6 Public Safety building, ax Public Warks b�ilding (parking structures are accep�able) <br />