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Any outstanding debt retirement would not be j eopardized nor would there be any risk that <br />the ultimate debt service would fall to the general taxpayer. <br />Legal obligations of current development agreements would be fulfilled. <br />Provision would be made for future legislative tax rate compression so that debt and other <br />related obligations would not be placed in jeopardy. <br />Policy Implications <br />Tax increment policy has limited the future use to Pay-As-You-Go. Dedication of the current non- <br />pay-as-you-go to specific uses, such as debt retirement, is in line with the Council's current policy. <br />Financial Implications <br />The financial and legal implications will be outlined as specific district termination options are <br />included as part of the plan and brought back to the Council in the near future. <br />Staff Recommendations <br />Staff is recommending the Council to authorize the development of a specific plan to provide for <br />possible early termination of appropriate districts. <br />Council Action <br />Move to authorize staff to prepare a plan for beginning early tax increment district termination. <br />