08-09-1999 EDA - Laserfiche WebLink

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City Administrator Whiting stated the resolution in question was in regard two parcels in TIF District No. 2, a parcel containing the Holiday Stationstore, and the parcel containing the ReaLife Cooperative. He stated that by removing these two parcels from the district, they would no longer generate an increment for the Tax Increment District. He stated this matter has been reviewed a number of times, with discussion at a number of meetings within the past month or so, and it is a fairly simple matter, from a procedural standpoint, as indicated in the resolution itself. Commissioner Marty stated he spoken to this issue when running for office, and did not see that the removal of the two parcels from the TIF District No. 2, would create any significant deficit in the district. He stated that neither one of these parcels has applied for, or used any TIF funds, and as he had stated prior to his election, he would like to do this, and this is what he would go through with. He stated he would like to see this adopted. President Coughlin stated he believed the City needed a policy for all aspects of tax increment financing for the City. He stated there is not a comprehensive policy, and therefore, thought it ill advised to consider the smaller picture, without having a larger picture to compare it to. He stated they do not have a policy, and do not know what impact this would have on future plans. He stated he thought it was unwise, and foolhardy to consider this before having the big picture in sight. He stated he had recently heard "if you have your fingers around the neck of a person, you should know if you intend to commit bodily harm or kill the person before you tighten your grip." He stated he would request the Authority not move forward with this proposal. Commissioner Thomason stated she was not present at the Work Session, however, she did have time to review this matter. She stated she was one of the parties initially in favor of de- certification. She stated, in retrospect, reviewing the specifics, and gaining the Finance Director and Economic Development Coordinator's input on the matter, she thought that decertified or not, this was a minor matter. She stated, as a liaison for the EDA, she noted they are very close to incorporating a TIF policy into their comprehensive plan. She stated she would like to see that work go forward, and requested the Authority table the resolution until after the Council has a TIF policy in place, and to have that policy in place no later than six months, March 1, 2000, and then recommend to the EDC to finish their work on their recommendations on the TIF policy. MOTION/SECOND: Thomason/Quick To Table Consideration of Resolution 99-EDA-117, a Resolution Decertifying Certain Parcels in TIF District No. 2, Until March 1, 2000, or Until Such Time Required to Provide a Comprehensive Policy, and During This Time the Authority Will Continue to Develop a Larger Policy, and Will Direct the Economic Development Commission to Further Investigate the Specifics and Provide Their Recommendations on TIF Policy. Ayes—3 Nays—2 (Stigney, Marty) Motion carried. President Coughlin asked Economic Development Director Carroll for his input, in regard to the proper direction to provide the Economic Development Commission. Mr. Carroll stated, as the 4C:\ADM IN\MINUTES\EDA\8-9-99.EDA