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MINi7TES <br />CITY COUNCIL <br />NOVEMBER 8, 1995 <br />Fifield replied that they can. Project areas can be <br />layered one on top of each other. Fifield reported <br />that the excess increment generated in District No. 5 <br />is committed to Presbyterian Homes through the year <br />2008. However, expansion of the District will allow <br />the City to use excess funds in the redevelopment area <br />when that commitment has lapsed. <br />The next expansion is proposed for Development District <br />No. 2, Kandice Heights. It is proposed that the <br />District be extended along Little Canada Road and into <br />the redevelopment area for the same reasons discussed <br />for the other two expansions. This will allow the City <br />the capacity to take excess TIF increments and apply <br />them to other redevelopment needs in the area. <br />However, the action does not compel the City to do <br />anything. There are definite needs within the boundary <br />of this particular district, and Fifield stated that is <br />is not recommending that dollars be transferred out of <br />this area. However, expansion of the District will <br />give the City the capacity to loan excess increments <br />for land acquisition, with the loan paid back at the <br />time the land is sold. This expansion lays the <br />foundation for the City to make future decisions about <br />TIF. <br />Fifield suggested that while the public hearing is <br />being held on these expansions this evening, the <br />Council not take formal action until its next meeting. <br />LaValle suggested that land acquisition of parcels on <br />Little Canada Road near the railroad tracks might be <br />necessary. <br />Fifield suggested that the City should be prepared to <br />look at some additional modifications as the <br />reconstruction plan for Little Canada Road becomes <br />clear. Expansion of the district to include parcels <br />along Little Canada Road can always be done in the <br />future, and some changes can be made in the context of <br />this hearing. <br />Fahey asked if there was anyone from the general public <br />present wishing to comment on this matter. There was <br />not. <br />Again, Fifield recommended that action on the <br />modifications be taken at the November 22nd meeting, <br />but that the Council proceed with the decertification <br />of District No. 3-1 and the certification of District <br />3-2. <br />3 <br />