09-06-2022 Council Work Session Packet

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TABLE OF CONTENTS Section A. Definitions........................................................................................................... B. Statutory Authorization....................................................................................... C. Statement of Need and Public Purpose............................................................. D. Statement of Objectives..................................................................................... E. Designation of Tax Increment Financing District as an Economic Development District....................................................................... F. Duration of the TIF District................................................................................. G. Property to be Included in the TIF District.......................................................... H. Property to be Acquired in the TIF District......................................................... I. Specific Development Expected to Occur Within the TIF District ...................... J. Findings and Need for Tax Increment Financing ............................................... K. Estimated Public Costs...................................................................................... L. Estimated Sources of Revenue.......................................................................... M. Estimated Amount of Bonded Indebtedness...................................................... N. Original Net Tax Capacity.................................................................................. O. Original Tax Capacity Rate................................................................................ P. Projected Retained Captured Net Tax Capacity and Projected Tax Increment. Q. Use of Tax Increment......................................................................................... R. Excess Tax Increment........................................................................................ S. Tax Increment Pooling and the Five -Year Rule ................................................. T. Limitation on Administrative Expenses.............................................................. U. Limitation on Property Not Subject to Improvements - Four Year Rule ............. V. Estimated Impact on Other Taxing Jurisdictions ................................................ W. Prior Planned Improvements.............................................................................. X. Development Agreements.................................................................................. Y. Assessment Agreements................................................................................... Z. Modifications of the Tax Increment Financing Plan ........................................... AA. Administration of the Tax Increment Financing Plan ......................................... AB. Financial Reporting and Disclosure Requirements ............................................ Map of the Tax Increment Financing District .................. Assumptions Report........................................................ Projected Tax Increment Report ..................................... Estimated Impact on Other Taxing Jurisdictions Report. Market Value Analysis Report ......................................... Draft Page(s) 1 1 1 2 2 3 4 4 4 4 6 7 7 7 8 8 9 10 10 11 11 11 12 12 12 13 13 14 EXHIBIT I EXHIBIT II EXHIBIT III EXHIBIT IV EXHIBIT V