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07-25-2016 EDA Packet
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07-25-2016 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
07/25/2016
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TABLE OF CONTENTS <br />Section <br />Page(s) <br />A. <br />Definitions..................................................................................................................... <br />1 <br />B. <br />Statutory Authorization..................................................................................................... <br />1 <br />C. <br />Statement of Need and Public Purpose................................................................................ <br />1 <br />D. <br />Statement of Objectives.................................................................................................... <br />1 <br />E. <br />Designation of Tax Increment Financing District as an Economic Development District .................... <br />2 <br />F. <br />Duration of the TIF District................................................................................................. <br />3 <br />G. <br />Property to be Included in the TIF District.............................................................................. <br />3 <br />H. <br />Property to be Acquired in the TIF District............................................................................. <br />4 <br />I. <br />Specific Development Expected to Occur Within the TIF District ................................................. <br />4 <br />J. <br />Findings and Need for Tax Increment Financing..................................................................... <br />5 <br />K. <br />Estimated Public Costs..................................................................................................... <br />6 <br />L. <br />Estimated Sources of Revenue.......................................................................................... <br />7 <br />M. <br />Estimated Amount of Bonded Indebtedness.......................................................................... <br />7 <br />N. <br />Original Net Tax Capacity................................................................................................. <br />7 <br />0. <br />Original Tax Capacity Rate................................................................................................ <br />8 <br />P. <br />Projected Retained Captured Net Tax Capacity and Projected Tax Increment ............................... <br />8 <br />Q. <br />Use of Tax Increment....................................................................................................... <br />9 <br />R. <br />Excess Tax Increment...................................................................................................... <br />9 <br />S. <br />Tax Increment Pooling and the Five Year Rule..................................................................... <br />10 <br />T. <br />Limitation on Administrative Expenses............................................................................... <br />10 <br />U. <br />Limitation on Property Not Subject to Improvements - Four Year Rule ....................................... <br />11 <br />V. <br />Estimated Impact on Other Taxing Jurisdictions................................................................... <br />11 <br />W. <br />Prior Planned Improvements............................................................................................ <br />12 <br />X. <br />Development Agreements............................................................................................... <br />12 <br />Y. <br />Assessment Agreements................................................................................................ <br />12 <br />Z. <br />Modifications of the Tax Increment Financing Plan................................................................ <br />12 <br />AA. <br />Administration of the Tax Increment Financing Plan.............................................................. <br />13 <br />AB. <br />Financial Reporting and Disclosure Requirements................................................................ <br />13 <br />Map <br />of the Tax Increment Financing District....................................................................................... <br />EXHIBIT I <br />AssumptionsReport <br />........................................................................................................................... <br />EXHIBIT II <br />Projected Tax Increment Report......................................................................................................... <br />EXHIBIT III <br />Estimated Impact on Other Taxing Jurisdictions Report...................................................................... <br />EXHIBIT IV <br />Market <br />Value Analysis Report............................................................................................................. <br />EXHIBIT V <br />
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