10-26-1998 EDA Packet - Laserfiche WebLink

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as -you -go assistance limited to the actual net city taxes generated, and time frames for development. Once the EDA approves the preparation of the plan, a budget, timetable and criteria will be formalized for the EDA's approval, and a public hearing will be held by the city council. Mr. Wessel will work with Jerry Shannon to study the financial implications and bring the plan to the City Council for a November hearing. EDA Member Lyden said that authorizing preparation of this plan was premature until the city has the information from Mr. Shannon. He moved to deny the authorization of the plan. EDA Member Dahl seconded the motion. Motion failed, with EDA Members Bergeson, Neal and Sullivan voting no. EDA Member Bergeson moved to adopt resolution 98-04. EDA Member Neal seconded the motion. During further discussion, Lyden asked if the taxpayer would pay for the authorization of the plan. Mr. Wessel responded that some of the funding would come from the community development budget, some from the Livable Communities grant, and some from the developer. He estimated it would cost $10,000. EDA President Sullivan asked for an update at each work session. Audience member Pat Rickaby approached the EDA and suggested the study include ways this could mitigate the LGA/HACA penalties, since in this type of redevelopment project, the school district doesn't lose tax dollars. EDA Member Bergeson said the difference between the old and new request was no dollars for the shopping center project were included in the latter. The plan would be put into place to provide incentives where needed to get the type of development the city wants. Mr. Wessel informed the board that the city was on the verge of Phase 2 of the Town Center, and that he and Ms. Divine had met with several nationally known planners and market analysts over the past few weeks. The Livable Communities funds will be used for their expertise in Traditional Neighborhood Development (TND). Ms. Divine explained to the Authority that TNDs were a form of planning that recalled the way cities were once built, with pedestrian orientation, mixed use, live/work environments and a strong civic focus. The Town Center Group will be meeting for the development of Phase 2. EDA Member Neal asked if a business person could be placed on the committee. Mr. Wessel will explore it. Mr. Wessel added that the intent is for the city to come out ahead on its investment in the Town Center. Public money will be needed for bride work, etc., and he would like to see 80% of public dollars come from other sources. EDA Member Lyden said he was against the timetable and the means to get there, and incentives needed to be looked at in terms of the overall city plan. He said he believes the results in economic development have not been great enough to favor this incentive.