Title
AN ORDINANCE APPROVING THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN, ESTABLISHING A REDEVELOPMENT AREA AND DESIGNATING THE REDEVELOPMENT AREA AS A BLIGHTED AREA. (NOTE: First reading done on August 10, 2017.)
Body
Issue/Request:
AN ORDINANCE APPROVING THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN, ESTABLISHING A REDEVELOPMENT AREA AND DESIGNATING THE REDEVELOPMENT AREA AS A BLIGHTED AREA
Key Issues:
See the attached memorandum from Gilmore & Bell.
Proposed City Council Motion:
AN ORDINANCE APPROVING THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN, ESTABLISHING A REDEVELOPMENT AREA AND DESIGNATING THE REDEVELOPMENT AREA AS A BLIGHTED AREA - I move for second reading
Background:
See the attached memorandum from Gilmore & Bell.
Impact/Analysis:
Approval of the Plan does not subject the City to financial risk as the reimbursement is made only from TIF revenues.
Other Information/Unique Characteristics:
[Enter text here]
Presenter
Presenter:
Rich Wood, Gilmore & Bell, Economic Development Counsel for the City
Recommendation
Recommendation:
Staff recommends approval
Committee Recommendation
Committee Recommendation:
On June 26, 2017, the Tax Increment Financing Commission adopted Resolution 2017-2 by a vote of 8 -1 to recommend the City Council approve the Village at View High Tax Increment Financing Plan.