Resolution No. 16-01 EDA - Laserfiche WebLink

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To retain our ability to use TIF staff has listed out the steps that the EDA/City would need to follow in order to demolish a building prior to a redevelopment TIF District being established: 1) The EDA Board finds by resolution (adopted before demolition) that the parcel was occupied by a structurally substandard building and that after demolition and clearance the EDA intends to include the parcel within a TIF district; 2) The City Council adopts resolution and makes blight findings regarding the building (based on report); 3) EDA and owner of property enter into a preliminary development agreement (before demolition) regarding demolition of the buildings and redevelopment of the property. The proposed development agreement does not bind the EDA and/or City to use of Tax Increment Financing. Rather the City and Developer (owner) are agreeing cooperate with respect to potential future redevelopment of the Property. The agreement sets for the conditions and for consideration of city redevelopment assistance and responsibilities of each party. The City Council will be considering the blight findings at their April 11, 2016 regular meeting. RECOMMENDATION Staff is recommending approval of Resolution No. 16-01 and Resolution No. 16-02. ATTACHMENTS 1. Resolution No. 16-01 2. LHB Recommendation March 27, 2015 3. Resolution No. 16-02 4. Preliminary Development Agreement