Title
An Ordinance approving Redevelopment Project K for the New Longview Tax Increment Financing Plan and activating the collection of Tax Increment Financing revenues therein. (Note: This Bill was introduced by Council on December 17, 2015. No vote or action taken at that time.)
Body
Issue/Request:
An Ordinance approving Redevelopment Project K for the New Longview Tax Increment Financing Plan and activating the collection of tax increment financing revenues therein.
Key Issues:
Bill No. 15-235 is proposed for second reading and adoption to activate the collection of Tax Increment Financing (TIF) revenue within the area identified as "Project Area K" of the New Longview Tax Increment Financing Plan. The first reading (introduction) of Bill No. 15-235 occurred on December 17, 2015 as project ordinance(s) related to TIF Plans must be introduced by first reading within 14-90 days after the conclusion of the TIF Commission hearing related to the Plan, however no vote or action was taken at that time. The New Longview TIF Project Area K is located on the west side of Longview Blvd. between Sensation Drive and Tower Park Drive and is approximately .69 acres. A development project has commenced on the parcel to construct a 4,935 sq. ft. veterinary hospital on the south portion of the parcel with a future 5,400 sq. ft. building proposed for the north portion of the parcel (site plan attached to this packet).
Proposed City Council Motion:
FIRST MOTION: I move for second reading of an Ordinance approving Redevelopment Project K for the New Longview Tax Increment Financing Plan and activating the collection of tax increment financing revenues therein.
SECOND MOTION: I move for adoption of an Ordinance approving Redevelopment Project K for the New Longview Tax Increment Financing Plan and activating the collection of tax increment financing revenues therein.
Background:
November 16, 2015 - the TIF Commission considered the proposed New Longview Tax Increment Fina...
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