03-05-86 Council Minutes - Laserfiche WebLink

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PIINUTES City Council March 5, 1986 Tax Increment The City Planner presented the Council a report on tax increment Financing financing and suggested areas for improvement and possible assistance in the City. ,The Planner reported that he initially used the areas suggested by the Economic Development Committee, but has made minor exceptions and one addition to these areas. The Planner described the areas he is suggesting as outlined in his report dated March 4, 1986. The Planner suggested that if the City proceeds with the program, his office should put together a policy statement on each of these districts outlining where the City would use tax increment financing. The developer would then have to justify to the City the need for the financing and meet the requirements outlined by the City. The Planner also stated that Ryan Industrial Park has not been included in the suggested areas, and the City may want to include it. Mr. Rlesener stated that he would like to see this area included as there is property that is not developed and perhaps the City would get a better grade of development. Fahe,y stated that he would not want to encourage a developer to displace any of the City's trailer parks. The Planner did not feel there would be a great likelihood of this happening. The Planner reported that if there is a governmental use that would require the relocation of a trailer park, there would be very high relocation fees involved. The City may want to have a policy statement that the City will not facilitate a relocation. Scalze suggested that the area west of Spruce Street and north of South Owasso be included. The Planner was agreeable. Scalze further suggested including Viking Drive. ~gain, the Planner stated that he had no problem with this. The Planner stated that the City can always amend the districts or create a new district. The Planner stated that he did not want to mix too many different uses in a district and this may cause the City to lose some flexibility and options. The Planner presented the Council with another report dated March 4, 1986 outlining the establishment of tax increment financing districts. The Planner suggested that the Planning Corrwnission review the proposal. Fahey suggested that this be reviewed by the Economic Development Committee as well. The Planner stated that at this point the proposal does not need to be presented to the County or the School District. However, the Planner suggested that they be advised. Page -5-