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FISCAL ANALYSIS <br />The financial analysis section of the Work Program will address the capacity of the City to <br />play an active role in the implementation of the Development Guide and the redevelopment <br />of the Rice Street area. In completing this section of the Work Program, we will: <br />4.1 Review tax increment financing plan for TIF District #3 -1 to determine <br />authorizations and limitation. <br />4.2 Review TIF Plans for all existing districts in the Rice Street/Little Canada Road area <br />and evaluate potential application to redevelopment plans. Districts to be examined <br />include #1 -3, #1 -4, #1 -5, and #2 -1. <br />4.3 Determine need and create strategies, as necessary, to amend tax increment financing <br />plans reviewed in #1 and #2 to protect the City from adverse effects of proposed <br />legislation. <br />4.4 Create computer model of parcels in tax increment financing district #3 -1. <br />4.5 Determine the tax capacity value created by various types and amounts of <br />commercial and residential development. <br />4.6 Conduct preliminary analysis to establish parameters for using tax increment <br />financing. <br />► Create "test" development scenarios for purpose of determining potential for <br />captured tax capacity. <br />► Project tax increment revenue. <br />► Analyze amount of supportable project costs and debt. <br />► Estimate LGA/HACA loss. <br />4.7 Determine need and ability to create new tax increment financing districts in the <br />study area. <br />4.8 Work with City Staff to determine the financial and timing parameters for the <br />reconstruction of Little Canada Road. <br />4.9 Identify and explain other tools available to the City to finance activities needed to <br />implement the plan. <br />Page 37 <br />8 <br />