HomeMy WebLinkAboutResolution 21-10 Amending the 2021 City Fee Schedule for Tax Increment Financing (TIF) ApplicationCITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
February 10, 2021
WIVAB[I;
A RESOLUTION APPROVING AN AMENDMENT TO THE 2021 CITY FEE SCHEDULE
ADDING A TAX INCREMENT FINANCE (TIF) APPLICATION FEE
WHEREAS, City Staff reviews the fee schedule to make sure that the fee reflects staff cost and that the
fee is competitive; and
WHEREAS, the proposed, non-refundable, fee of $5,000 is consistent with other, comparable, cities; and
WHEREAS, the proposed escrow requirement of $10,000 is consistent with other, comparable, cities;
and
WHEREAS, there are substantial costs related to the administration, legal review, financial analysis, and
other direct costs; and
WHEREAS, the costs related to the application of the Tax Increment Finance district shall be borne by
the applicant and not the tax payers of the City; and
WHEREAS, the recommended changes are necessary.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Falcon Heights, Minnesota
approves the amendment to the 2021 Fee Schedule adding a Tax Increment Finance (TIF) Application fee
of $5,000 and an escrow of $10,000. This resolution shall take effect upon its passage.
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Moved by: kdYeW S Approved by:
Ball C. G sta son
Mayor
GUSTAFSON 5 In Favor
MIAZGA
ANDREWS 0 Against
LEEHY
WEHYEE
Attested by:
Sack Thong nil
City Administrator