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SEP 08 '95 07:48RM EHLERS & ASSOCIATES <br />Joel Hanson <br />September 8, 1995 <br />Step in Guide Action Comments <br />P.3/4 <br />Implementation <br />Page 2 <br />Initiate process to create new This implementation step calls for the <br />6 TIE District #3 -2 decertification of the current District #3 -1 and <br />the creation of a new district. To make TIF an <br />economically viable tool. <br />The first step is to begin the process of creating a <br />new TIF District to replace #3-1. This process <br />should start as soon as possible because we <br />cannot issue building permits for Market Place <br />renovations until the District is certified. <br />I recommend that formal action to decertify <br />District #3 -1 be deferred. We do not need to <br />decertify the current district until we are ready to <br />create the new one. This approach allows us to <br />conduct the initial analysis of creating the new <br />district without eliminating an existing tool. It <br />removes the risk of finding an unexpected <br />problem with a new district- <br />7 <br />Initiate process to amend TIE <br />Districts #2 -1, #3 and #5. <br />These actions should occur regardless of the final <br />form of the Development Cuide. The changes in <br />#2-1 are particularly important The tax <br />increment revenue in #2 -1 may be needed to <br />leverage initial financing for activities in study <br />area. <br />1 <br />Authorize staff to negotiate with While we have had discussions with Bob <br />developer of Market Place Crootwassink, the City Council has not <br />addressed this issue. Our discussions need to <br />focus on: <br />Benefit, if any, of purchasing facility, <br />Agreement on relocation of Market <br />Place Drive and related parking issues. <br />Exterior improvements compatible with <br />Guide. <br />Acquisition and relocation of Budget <br />Power. <br />Financial participation of City. <br />Page 80 <br />