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IA <br />AGENDA ITEM 14A <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 5/13/02 <br />TOPIC: <br />BACKGROUND: <br />Consideration of Resolution 02-42 hiring Schoell & <br />Madson, Inc. for a TIF Redevelopment District <br />Analysis <br />This contract for professional services is to provide a Building Condition <br />Assessment and Site Coverage Analysis for two potential tax increment <br />financing redevelopment districts (see attached map). This is a necessary step in <br />determining the feasibility of creating TIF districts to assist with development and <br />redevelopment of these two areas of the Town Center. <br />The engineering firm of Schoell & Madson, Inc. has proposed to complete <br />inspections and prepare a report for a cost not to exceed $6,900 plus <br />reimbursible expenses. City staff will contact homeowners and businesses and <br />explain the intent of the assessment and make arrangements for the firm to <br />complete its inspections. <br />At its April meeting EDAC recommended the City Council consider moving <br />forward with determining the feasibility of TIF Redevelopment Districts in the <br />Town Center, as part of long term planning for the Village project and <br />redevelopment of Lake Drive. <br />OPTIONS: <br />1. Approve Resolution No. 02-42 authorizing a Building Condition Assessment <br />and Site Coverage Analysis. <br />2. Do not approve the Resolution. <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />