03-14-90 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL March 14, 1990 building to 55 years of age or older for that time period. Brachman reported that he also has a proposal from Lee Maxfield for the market study, Scalze asked how the Planning Commission felt about TIF assistance for the project. Brachman replied that their comments were that this was a reasonable use of TIF. Fahey reported that the City Administrator has received favorable comments from the County on the possibility of this project qualifying for block grant funding. Fahey reported that there is concern on the part of the City for tying up TIF for 20 years. Fahey also stated that there may be questions on the project being an appropriate use of TIF. Fahey felt that the use of CDBG funds should be researched further. Brachman replied that the problem he can foresee with the CDBG funds is that funding would not be available until July of 1991, which will delay the project. Fahey replied that that might be more favorable than tying up TIF for 20 years. Fahey felt the situation should be analyzed to determine if TIF could be used for a shorter period of time if CDBG funds are used as well. The City Administrator agreed that the matter should be analyzed, but pointed out that there are no guarantees from the County that CDBG funding would be approved, the County only indicated that the project was a favorable one for consideration. The Administrator reported that he discussed the TIF issue with Mary Ippel of Briggs and Morgan who indicated that typically TIF assistance is not provided for longer than 15 years. However, that does not mean the City could not provide the assistance for a longer period. Scalze reported that she has discussed the senior citizen proposal with representatives of the Marketplace who have indicated some concern. TheMarketplace is not sure about the rezoning that would be needed, feeling that it may be more beneficial to them to have the property develop commercially. Page 12