Title
Presentation - 2nd and Douglas Tax Increment Financing Plan and 2nd and Douglas Land Clearance for Redevelopment, Redevelopment Plan, 114 SE Douglas Street; DTLS Apartments, LLC, applicant
Body
Issue/Request:
Presentation - 2nd and Douglas Tax Increment Financing Plan and 2nd and Douglas Land Clearance for Redevelopment, Redevelopment Plan, 114 SE Douglas Street; DTLS Apartments, LLC, applicant
Key Issues:
DTLS Apartments, LLC (the "Developer") and City staff will be presenting the proposed 2nd and Douglas Tax Increment Financing (TIF) Plan and 2nd and Douglas Land Clearance for Redevelopment (LCRA), Redevelopment Plan. The purpose for the presentation is to provide an overview of the proposed economic development incentive package being sought to pursue the proposed DTLS Apartment redevelopment project. The proposed incentive package includes utilizing TIF and LCRA incentives to assist in financing the proposed redevelopment project. The statutory required public hearing for the TIF Plan was held on March 25, 2019 and the public hearing for the LCRA Plan held on February 27, 2019 before the respective commissions.
Although this is a presentation and not a public hearing - it is appropriate and necessary to allow for public testimony on the proposed plan(s) after the Developer and staff have made presentations.
Additional information provided by the Developer and City staff may be found in the attachments to this packet form.
Proposed City Council Motion:
Presentation and public testimony only - a total of 4 ordinances have been prepared for the Mayor and City Council's consideration with regard to the proposed redevelopment plan, TIF and LCRA plans as follows:
* Agenda item 4.A.1 - Tax Increment Financing Plan ordinance
* Agenda item 4.A.2 - Tax Increment Financing Redevelopment Project ordinance (second reading and adoption to be considered at a future date)
* Agenda item 4.A.3 - Preliminary Development Plan ordinance
* Agenda item 4.A.4 - Land C...
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