04-10-2013 Council Agenda - Laserfiche WebLink

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3. Upon approval of a developers plan relating to the project and completion of the necessary legal requirements, the City may sell to a developer selected properties that it may acquire within the District or may lease land or facilities to a developer. 4. The City may perform or provide for some or all necessary acquisition, construction, relocation, demolition, and required utilities and public street work within the District. (AS MODIFIED APRIL 10, 2013) As of the date of this modification, the City has entered into contracts with the following developers for the following development activities: 1. Masterpiece Homes, dated December 1, 2008. Activity is construction of approximately 15 units of owner occupied housing. Subsection 2 -5. Description of Property in the District and Property To Be Acquired The District encompasses all property and adjacent rights -of -way and abutting roadways identified by the parcels listed in Appendix C of this TIF Plan. Please also see the map in Appendix B for further information on the location of the District. The City may acquire any parcel within the District including interior and adjacent street rights of way. Any properties identified for acquisition will be acquired by the City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets, utilities and facilities; carry out land acquisition. site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. The District is being modified to add 2 parcels, adjacent easement property and encompasses all property and adjacent rights -of -way and abutting roadways identified by the parcels listed in Appendix C of this TIF Plan (both existing parcels and the parcels for the modified area). Please see the map in Appendix B for further information on the location of the District. It is the intent that the City may acquire any parcel within the existing District and modified area including interior and adjacent street rights of way. However, if an opportunity presents itself to further the redevelopment objectives of preventing or removing blight within Development District No. 6, the City may acquire property located anywhere in the Development District. Any properties identified for acquisition will be acquired by the City only in order to accomplish one or more of the following: carry out land acquisition; demolition of structures; rehabilitation of housing and commercial units; relocation; construction of new residential and commercial units; site improvements; storm sewer improvements; provide land for needed public streets, sidewalks, alley ways, utilities and facilities to accomplish the uses and objectives set forth in this plan. The City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. City of little Canada Tax Increment Financing Plan for Tax Increment Financing District No. 6-1 2 -2