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MINi7TES <br />CITY COUNCIL <br />NOVEPSBER 8, 1995 <br />that the Council transfer the administration of those <br />districts to the EDA. <br />Fifield reported that the TIF proposals before the <br />Council come from the Redevelopment Guide. Fifield <br />suggested that he review the changes proposed to the <br />development districts and their related TIF plans. <br />After that he would discuss the new TIF District <br />proposed around the Rice Street/Little Canada Road area <br />which replaces District No. 3-1. Fifield pointed out <br />that there are both TIF Development Districts and TIF <br />Financing Districts. Value is captured from within the <br />boundaries of a Development District. Within the <br />Development District there is a Financing District. <br />The proposal before the Council calls for the expansion <br />of three existing Development Districts within the <br />City. <br />The first is Development District No. 4, Rice at C. It <br />is proposed that that District be expanded to include <br />the core redevelopment area of Rice Street and Little <br />Canada Road. This would allow any excess increment <br />within Development District No. 4 to be spent within <br />the expanded area. <br />Morelan asked if enlarging the Rice At C District would <br />negatively impact TIF funds. <br />Fifield replied that the expansion creates the capacity <br />to spend TIF dollars in a broader area. The expansion <br />dos not compel the City to do anything. <br />LaValle asked if there was any reason not to expand the <br />district as far south along Rice Street as County Road <br />B-2. <br />Fifield replied that there was not, and no reason this <br />could not be done in the future. There is a relative <br />modest amount of excess TIF in the existing district. <br />The focus of the Development Guide is on the core <br />redevelopment area. Given the $30,000 to $40,000 <br />excess, there are ample ways to use these funds in <br />public improvements and/or land acquisitions within the <br />core area. <br />Fifield reported that the next expansion proposed is <br />for Development District No. 5, Presbyterian Homes. <br />Again, it is proposed that the district be expanded to <br />include the core redevelopment area. <br />Fahey asked if districts can overlap. <br />2 <br />