12-02-2020 Council Packet - Laserfiche WebLink

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TABLE OF CONTENTS (for reference purposes only) SECTION I - MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 1..............................1-1 Foreword..............................................................1-1 SECTION II - MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-2.........................2-1 SECTION III - TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-3.........................3-1 Subsection 3-1.Foreword...............................................3-1 Subsection 3-2.Statutory Authority........................................3-1 Subsection 3-3.Statement of Objectives....................................3-1 Subsection 3-4.Redevelopment Plan Overview...............................3-1 Subsection 3-5.Description of Property in the District and Property To Be Acquired ..3-2 Subsection 3-6.Classification of the District.................................3-3 Subsection 3-7.Duration of the District.....................................3-3 Subsection 3-8.Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements....3-4 Subsection 3-9.Sources of Revenue/Bonded Indebtedness.....................3-5 Subsection 3-10.Uses of Funds...........................................3-6 Subsection 3-11.State Tax Increment Financing Aid (Local Contribution)............3-7 Subsection 3-12.Fiscal Disparities Election...................................3-7 Subsection 3-13.Business Subsidies.......................................3-8 Subsection 3-14.County Road Costs.......................................3-9 Subsection 3-15.Estimated Impact on Other Taxing Jurisdictions..................3-9 Subsection 3-16.Supporting Documentation.................................3-10 Subsection 3-17.Definition of Tax Increment Revenues........................3-10 Subsection 3-18.Modifications to the District.................................3-10 Subsection 3-19.Administrative Expenses..................................3-11 Subsection 3-20.Limitation of Increment....................................3-11 Subsection 3-21.Use of Tax Increment.....................................3-12 Subsection 3-22.Excess Tax Increments...................................3-13 Subsection 3-23.Requirements for Agreements with the Developer...............3-13 Subsection 3-24.Assessment Agreements..................................3-14 Subsection 3-25.Administration of the District................................3-14 Subsection 3-26.Annual Disclosure Requirements............................3-14 Subsection 3-27.Reasonable Expectations..................................3-14 Subsection 3-28.Other Limitations on the Use of Tax Increment.................3-15 Subsection 3-29.Summary..............................................3-15 APPENDIX A - PROJECT DESCRIPTION.......................................A-1 APPENDIX B - MAP OF REDEVELOPMENT PROJECT AREA NO. 1 AND THE DISTRICT.B-1 APPENDIX C - DESCRIPTION OF PROPERTY TO BE INCLUDED IN THE DISTRICT....C-1 APPENDIX D - ESTIMATED CASH FLOW FOR THE DISTRICT......................D-1 APPENDIX E - HOUSING QUALIFICATIONS FOR THE DISTRICT...................E-1 APPENDIX F - BUT/FOR QUALIFICATIONS.....................................F-1