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AGENDA ITEM 4B <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 2/12/96 <br />TOPIC: Resolution calling for a public hearing on the modification of the Plan for <br />Tax Increment Financing District No. 1-7 <br />BACKGROUND: <br />The EDA has authorized the preparation of a modified plan for TIF District 1-7. <br />This modified plan will add parcels to the district and provide financial <br />assistance to two industrial projects. <br />The parcels that will be added include the G.M. Development site in the Apollo <br />Business Park, Glenn Rehbein's light industrial site on the 1-35W/Hwy 4�9 <br />interchange, and the Hawkins Chemical site just north of the ilio Business <br />Park. The momentum is there for these sites to develop over the next couple of <br />years. Once these sites are incorporated into TIF District 1-7, the city will have <br />the capacity to offer financial assistance. <br />OPTIONS: <br />1. Adopt 'Resatut'on 96-24 calling for a public hearing on March 25, 1995 at 6:45 <br />p.m. <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />