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AGENDA ITEM 7 <br />STAFF ORIGINATOR: Brian Wessel: <br />DATE: 11113/95 <br />TOPIC: Consideration of Resolution No. 95-14 authorizing the preparation <br />of a modified program for Development District No, 1 and Tax <br />Increment Financing Plans for Tax Increment Financing Districts <br />No. 1-1 and 1-2 <br />BACKGROUND: <br />A modification of the program and the plans for Tax Increment Financing <br />Districts 1-1 (Rice Lake Estates) and 1-2 (Sunrise Meadows) is required to <br />transfer TIF funds within the district. This resolution will begin preparation of <br />these plans and set an EDA meeting for December 18, 1995 at 6 p.m. to adopt <br />the modified program and plan. <br />OPTIONS: <br />1. Adopt Resolution No. 95-14 authorizing the preparation of a modified prgram <br />for Development District No. 1 and Tax Increment Financing Plans for TIF <br />Districts No. 1-1 and 1-2 <br />2. Return to staff°for further consideration <br />RECOMMNpATION: <br />Option 1 <br />