Laserfiche WebLink
4. PROSPECT SUBSIDY EVALUATION <br />PURPOSE: <br />Regular review and evaluation the City's financing program <br />as part of long range economic development planning to <br />optimize the use of tax increment financing and other funding <br />sources. <br />TIME FRAME: Annual <br />ASSIGNED TO: Community Development Director /Assistant <br />STRATEGY: 1. Prioritize the potential uses for funds generated through Tax <br />Increment Financing. <br />2. Develop potential subsidy sources and policy for providing financial <br />incentives to commercial uses within the Town Center. <br />4. Develop triggers for use of incentives and criteria for periodic <br />evaluation <br />5. Update TIF Policy and recommend adoption by the City Council. <br />PROJECTED RESULTS: <br />An ongoing evaluation of current and future uses of Tax <br />Increment Financing will promote development within the City in a <br />manner that most effectively benefits the Commercial /Industrial <br />tax base. Alternative subsidy sources will provide additional <br />incentive to business and reduce the city's reliance on TIF as its <br />only subsidy source. <br />POLICY RECOMMENDATION: Adopt TIF policy update for 2000 (See Attachment D) <br />13 <br />