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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of City Council <br /> <br />FROM: Joel Hanson, City Administrator <br /> <br />DATE: April 4, 2018 <br /> <br />RE: Creation of Tax Increment Financing District No. 7-1 <br /> <br /> <br />The City is in the process of creating tax increment financing district #7-1. The parcels that <br />will be located within the district are shown on the Aerial Map attached. This district is being <br />created to foster redevelopment within the two areas noted. The Suite Living project will <br />generate increment that can assist with other redevelopment objectives; especially in the <br />northern area of the map. Specifically, the owner of 93 West Little Canada Road is interested <br />in redeveloping that site. Creation of a downtown or town square has also been discussed for <br />that area but no planning action has taken place to date. <br /> <br />The Council should review the attached Development Program and Tax Increment Financing <br />plan. After reviewing those documents, staff is requesting you adopt the attached <br />resolution if you are in agreement that this program is in conformance with the general <br />plans for redevelopment/redevelopment of the City. <br /> <br /> <br /> <br /> <br />