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Future financial implications <br /> The use of tax increment funds for these activities not only satisfies the 1988 TIF plan's objectives, <br /> acitivities and budget, it also allows the city to rebuild its infrastructure capital fund after two major <br /> street projects in 1991 and 1993. By rebuilding these infrastructure funds, the city can proceed with <br /> necessary infrastructure improvements throughout the city while maintaining a balanced assessment <br /> policy for benefitting property owners. <br /> Fund transfers <br /> Larpenteur Avenue budget <br /> In order to cover the costs associated with the reconstruction of Larpenteur Avenue allocated in the <br /> TIF plan, a transfer of 20,000 into the Larpenteur Avenue capital fund is necessary. This will <br /> cover the planning and engineering expenses incurred in 1993 and cover additional expenses for <br /> project planning. The project is scheduled for 1995 and 1996. <br /> Street and public utility improvement budget <br /> Transferring 213,000 from the TIF construction fund to the infrastructure fund will cover some <br /> costs of street reconstruction, pathway construction, and utility improvements in the Grove <br /> neighborhood in the vicinity of Housing District 1 (1666 Coffman). <br /> 2061 West Larpenteur <br /> No action is necessary because no TIF related expenditures were undertaken in 1993. <br /> Conclusion <br /> These transfers will not jeopardize the outstanding TIF bonds held by the city nor other planned TIF <br /> expenditures. By using these funds for planned projects, the city will be able to use its infrastructure <br /> funds for necessary improvements throughout the city. In 1994 the council plans to revisit its <br /> capital improvement program to develop a more detailed long range plan with anticipated revenues <br /> and expenditures. The 1988 TIF plan will be included in this planning process. <br /> C: Steve Apfelbacher, Ehlers <br /> Dave Maroney, Ehlers <br />