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• AGENDA ITEM 3 <br />• <br />• <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 10/27/03 <br />TOPIC: Resolution No. 03 -08 Decertifying Tax Increment Financing <br />District No. 1 -6, Apollo Business Park <br />BACKGROUND: <br />Tax Increment Financing District No. 1 -6 was established in 1994 as a one - <br />project district to provide assistance to UDOR U.S.A. The obligations in that <br />district have been satisfied. This resolution terminates the district as of November <br />15, 2003. This project, totaling approximately $375,000 in market value, will add <br />an additional $3,000 of city taxes on the tax rolls as of the second half of 2003. <br />OPTION <br />1. Adopt Resolution No. 03 -08 Decertifying Tax Increment Financing District <br />No. 1 -6 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />