File #: BILL NO. 17-183    Name:
Type: Ordinance Status: Second Reading
File created: 8/2/2017 In control: City Council - Regular Session
On agenda: 8/10/2017 Final action:
Title: AN ORDINANCE APPROVING REDEVELOPMENT PROJECT 5 FOR THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN AND ACTIVATING THE COLLECTION OF TAX INCREMENT FINANCING REVENUES THEREIN.
Attachments: 1. Ordinance, 2. City Council Staff Report 8-2-17, 3. Res. No. 2017-2 - Approve TIF Plan

Title

AN ORDINANCE APPROVING REDEVELOPMENT PROJECT 5 FOR THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN AND ACTIVATING THE COLLECTION OF TAX INCREMENT FINANCING REVENUES THEREIN.

 

Body

Issue/Request:

This ordinance will approve Project #5 of the Village at View High TIF Plan and initiate tax increment financing in the Project Area.

 

Key Issues:

See the attached memorandum from Gilmore & Bell.

 

Proposed City Council Motion:

AN ORDINANCE APPROVING REDEVELOPMENT PROJECT 5 FOR THE VILLAGE AT VIEW HIGH TAX INCREMENT FINANCING PLAN AND ACTIVATING THE COLLECTION OF TAX INCREMENT FINANCING REVENUES THEREIN - I move for second reading.

 

Background:

See the attached memorandum from Gilmore & Bell.

 

Presenter

Presenter:

Rich Wood, Gilmore & Bell, Economic Development Counsel for the City

 

Recommendation

Recommendation:

Staff recommends first reading only.

 

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.