File #: BILL NO. 17-178    Name:
Type: Ordinance Status: Passed
File created: 8/1/2017 In control: City Council - Regular Session
On agenda: 8/24/2017 Final action: 8/24/2017
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.)
Attachments: 1. Ordinance, 2. City Council Staff Report 8-2-17, 3. Res. No. 2017-2 - Approve TIF Plan

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.