04-10-2013 Council Agenda - Laserfiche WebLink

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Subsection 1-5. Statement of Public Facilities and Costs to Be Financed The preceding objectives will be promoted by providing improvements and opportunities within the Development Program which may include various types of site improvements, land acquisition, redevelopment, demolition, parking, street, sewer, water and other public improvements. A description of the items of expenditure and the estimated costs can be found in the Tax Increment Financing Plans for the Tax Increment Financing Districts created within this Development Program. Subsection 1-6. Funding of Developments and Redevelopments To implement the established objectives, the City plans to utilize a number of public and private financing tools. Funding of the necessary activities and improvements in the Development Program is expected to be accomplished through, and is not limited to, tax increment financing, special assessments, state aid for road construction, proceeds from the sale of property, and federal and state grants. Any public facilities within the Development District will be financially feasible and compatible with longer range development plans. Any acquisition of property for the public improvements will be done to provide the impetus for private development within the Development District. Subsection 1 -7. Environmental Controls All municipal actions, public improvements and private development shall be carried out in a manner consistent with existing environmental controls and all applicable Land Use regulations. Subsection 1-8. Proposed Reuse of Property The Development Program contemplates that the City may acquire property and reconvey the same to another entity. Prior to formal consideration of the acquisition of any property, the City will require the execution of a binding development agreement with respect thereto and evidence that Tax Increments or other funds will be available to repay the Public Costs associated with the proposed acquisition. It is the intent of the City to negotiate the acquisition of property whenever possible. Appropriate restrictions regarding the reuse and redevelopment of property shall be incorporated into any development agreement to which the City is a party. Subsection 1-9. Open Space to Be Created Any open space within the Development District will be created in accordance with the zoning and ordinances of the City. Subsection 1-10. Administration and Maintenance of Development District No. 6 Maintenance and operation of the Development Program will be the responsibility of the City Administrator. Each year, the administrator of the Development Program will submit to the City Council the maintenance and operation budget for the following year. The administrator of the Development Program will administer the Development Program pursuant to the provision of the Municipal Development District Act; provided, however, that such powers may only be exercised at the direction of the City. No action taken by the administrator of the Development Program pursuant to the above- mentioned powers shall be effective without authorization by the City. City of Little Canada Development Program for Development District No.6 1-4