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MINUTES <br />Planning Commission <br />March 13, 1986 <br />Tax Davison asked if the City sets up a district, does it have to accept <br />Increment a tax increment project. The Planner replied that the City would <br />Financing be able to turn down any project that was not acceptable. <br />(Cont.) <br />DeLonais asked the State's feelings on tax increment. The Planner <br />replied that the Federal Government may limit municipal government <br />bonding authority. This may happen at the end of the year. <br />DeLonais stated that he would like to be more fully informed on the <br />pros and cons of tax increment. DeLonais suggested that a member <br />of the Planning Commission be appointed to the Economic Development <br />Committee. <br />Mrs. Timmons recommended that Gene DeLonais be appointed to serve <br />as the Planning Commission liaison to the Economic Development <br />Committee. <br />Motion seconded by Mr. Herkenhoff. <br />Motion carried 7 - 0. <br />Mr. Davison stated that he had a strong reaction to designating areas <br />where people are living as tax increment districts. Davison stated <br />that he could see the argument for designating the I -P District as <br />a tax increment district. <br />Timmons stated that tax increment was a way of getting the smaller <br />property owners together. However, Timmons suggested that Little <br />Canada was too developed for tax increment. <br />DeLonais asked if industrial revenue bonds would be a better tool. <br />The Planner reported that industrial revenue financing has been <br />cut back and has tighter restrictions. <br />Costa stated that he would not be in favor of the City's condeming <br />property. <br />Herkenhoff stated that he would like more information on tax increment <br />versus tax exempt. Herkenhoff asked which one would be better. <br />Timmons stated that she was not sure tax increment was a good plan <br />for the City. Timmons did not like the idea of forcing property <br />owners to be ready to develop at the same time. <br />The Commission stated that they would like more information on tax <br />increment. It was suggested that this matter be put on the agenda <br />for the April Planning Commission meeting. The Commission felt a <br />member of the Council may be able to give them more information on <br />this subject and suggested that Bill Blesener be invited to attend <br />the April meeting. <br />Page -5- <br />