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A EN ►A ITEM 3 <br />INATOR: Brian Wessel <br />4/28197 <br />Resolution No. 97-08 adopting a modified program <br />for Development District No. 1 and to establish Tax <br />increment Financing District No. 1-8 <br />litstablishment of this 25-year Redevelopment District is in response to <br />eas within the city that meet the criteria for redevelopment and have <br />pots' ` redevelopment within thenear future. The redevelopment district <br />will enable the city to offer financial assistance for land, assessments or site <br />work when appropriate. At this time, the sites that are being considered for <br />redevelopment include: 1) the former Gethsemane Church site in the Village <br />where Fairview is planning to build a clinic; 2) the 49 Club site which is in need <br />of structural repair and upgrading; and 3) the "Kaiser" property which the city <br />intends to sell for commercial redevelopment. <br />A total of 4 parcels are included in three separate areas of the city. It is possible <br />that there are other potential redevelopment areas within the city, but <br />redevelopment may not occur in the foreseeable future. Over time, the city can <br />expand the District to include other parcels, providing they meet the criteria for <br />redevelopment. <br />OPTIONS: <br />1. Adopt Resolution No. 97-08 for the modificationof Development District No. 1 <br />and the establishment of TIF District No. 1-8 <br />2. Return to staff for fui <br />RECOMMENDATION: <br />Option 1 <br />