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02-01-2006
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02-01-2006
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8/30/2018 10:15:11 AM
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MV City Council
City Council Document Type
City Council Packets
Date
2/1/2006
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TABLE OF CONTENTS <br />(for reference purposes only) <br />SECTION I - MODIFICATION TO THE PROJECT PLAN <br />FOR THE MOUNDS VIEW ECONOMIC DEVELOPMENT PROJECT .............. 1-1 <br />Foreword ............................................................. 1-1 <br />SECTION II - TAX INCREMENT FINANCING PLAN <br />FOR TAX INCREMENT FINANCING DISTRICT NO. 5 .......................... 2-1 <br />Subsection 2-1. Foreword............................................... 2-1 <br />Subsection 2-2. Statutory Authority........................................ 2-1 <br />Subsection 2-3. Statement of Objectives ................................... 2-1 <br />Subsection 2-4. Project Plan Overview..................................... 2-2 <br />Subsection 2-5. Description of Property in the District and Property To Be Acquired . 2-2 <br />Subsection 2-6. Classification of the District................................. 2-3 <br />Subsection 2-7. Duration of the District..................................... 2-3 <br />Subsection 2-8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity <br />Value/Increment and Notification of Prior Planned Improvements ................ 2-4 <br />Subsection 2-9. Sources of Revenue/Bonded Indebtedness .................... 2-6 <br />Subsection 2-10. Uses of Funds ........................................... 2-7 <br />Subsection 2-11. Fiscal Disparities Election................................. 2-10 <br />Subsection 2-12. Business Subsidies...................................... 2-10 <br />Subsection 2-13. County Road Costs ...................................... 2-11 <br />Subsection 2-14. Estimated Impact on Other Taxing Jurisdictions................ 2-11 <br />Subsection 2-15. Supporting Documentation ................................ 2-13 <br />Subsection 2-16. Definition of Tax Increment Revenues ....................... 2-14 <br />Subsection 2-17. Modifications to the District................................ 2-14 <br />Subsection 2-18. Administrative Expenses .................................. 2-15 <br />Subsection 2-19. Limitation of Increment ................................... 2-15 <br />Subsection 2-20. Use of Tax Increment .................................... 2-16 <br />Subsection 2-21. Excess Increments ...................................... 2-17 <br />Subsection 2-22. Requirements for Agreements with the Developer .............. 2-17 <br />Subsection 2-23. Assessment Agreements ................................. 2-17 <br />Subsection 2-24. Administration of the District ............................... 2-17 <br />Subsection 2-25. Annual Disclosure Requirements ........................... 2-18 <br />Subsection 2-26. Reasonable Expectations ................................. 2-18 <br />Subsection 2-27. Other Limitations on the Use of Tax Increment................. 2-18 <br />Subsection 2-28. Summary.............................................. 2-19 <br />APPENDIX A <br />PROJECT DESCRIPTION ................................................ A-1 <br />APPENDIX B <br />MAP OF THE MOUNDS VIEW ECONOMIC DEVELOPMENT PROJECT <br />AND TAX INCREMENT FINANCING DISTRICT ............................... B-1 <br />APPENDIX C <br />DESCRIPTION OF PROPERTY TO BE INCLUDED IN THE DISTRICT............. C-1 <br />APPENDIX D <br />ESTIMATED CASH FLOW FOR THE DISTRICT .............................. D-1
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