04-12-1995 Additions - Laserfiche WebLink

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MAR 29 '95 02:55PM EHLERS & ASSOCIATES P.0 /11 the city. O Recommend housing developments (for -sale and rental) in the Rice Street/Little Canada Road area that would be appropriate m enhance the existing housing stock and provide for changing housing needs. FISCAL ANALYSIS The financial analysis section of the Work Program will address the capacity of the City to play an active role in the implementation of the Development Guide and the redevelopment of the Rice Street area. In completing this section of the Work Program, we will: 4.1 Review tax increment financing plan for TEF District #3 -1 to determine authorizations and limitation. 4.2 Review TIP Plans for all existing districts in the Rice Street/Little Canada Road area and evaluate potential application to redevelopment plans. Districts to be examined include #1 -3, #1 -4, #1 -5, and #2 -1. 4.3 Determine need and create strategies, as necessary, to amend tax increment financing plans reviewed in #1 and #2 to protect the City from adverse effects of proposed legislation. 4.4 Create computer model of parcels in tax increment financing district #3 -1. 4.5 Determine the tax capacity value created by various types and amounts of commercial and residential development. 4.6 Conduct preliminary analysis to establish parameters for using tax increment financing. • Create "test" development scenarios for purpose of determining potential for captured tax capacity. • Project tax increment revenue. • Analyze amount of supportable project costs and debt. • Estimate I- GA /BACA loss. • Estimate implications of fiscal disparities program. 4.7 Determine need and ability to create new tax increment fmancing districts in the study area. 4.8 Work with City Staff to determine the financial and timing parameters for the reconstruction of Little Canada Road. A -6 Page 8