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08 City Council Regular Meeting Minutes September 23, 2003 Page 8 1 meeting was a proper time to discuss specific maintenance issues to be incorporated. He 2 indicated a periodic review of the Agreement could be incorporated into the language. 3 4 Councilmember Horst asked if a TIF district could incorporate areas not considered blighted. ' 5 Mr. Shardlow responded this was not his area of expertise; however, he understood TIF 6 financing could be used if a certain percentage met the criteria. 7 8 Councilmember Sparks asked Mr. Shardlow to explain what should be expected of the PUD 9 process in the next few months. Mr. Shardlow responded the City Attorney, along with his 10 assistance, would prepare the PUD Agreement for Council's consideration. He indicated the 11 developers would continue to acquire additional properties and would seek final development 12 plan approval for other residential portions of the properties, at which time they would move 13 forward to develop it. He added the developers would then go forward with construction and 14 occupancy. Mr. Shardlow explained they were currently in a significant part of the PUD 15 process. 16 17 Motion carried unanimously. 18 19 A. Resolution 03-082, re: to modify the Redevelopment Plan for Redevelopment Project 20 Area No. 3, and to establish TIF District No. 3-5 within Redevelopment Project Area No. 21 3 and approve the removal of certain parcels from the HRH's TIF No. 3-3 for inclusion 22 into District No. 3-5 and to adopt a TIF plan therefor. 23 24 Mayor Hodson opened the public hearing at 8:00 p.m. 25 26 Sid Inman, Executive Vice President of Ehlers and Associates, noted the City was considering 27 establishing Tax Increment Financing District 3-5 to facilitate the redevelopment of the Apache 28 Plaza Shopping Center and surrounding area, commonly referred to as the Northwest Quadrant, 29 in accordance with the Redevelopment Plan. He stated TIF District 3-5 consisted of 24 parcels 30 of land and adjacent and internal rights-of-way and was approximately 65 acres in size. He 31 noted the duration of District 3-5 would be 25 years from the date of receipt of the first 32 increment, which would be approximately 2006; therefore, it was estimated the District, 33 including any modifications of the Plan for subsequent phases or other changes, would terminate 34 in 2031. 35 36 Mr. Inman noted four parcels to be included in District 3-5 were located within Apache TIF 37 District 3-3, a Redevelopment District created in 1993. These parcels were the following: pond 38 by Cub, pond behind mini-mall, vacant land between SAV H and Conoco and vacant land next 39 to Taco Bell. He noted the proposed action currently before Council requested approval of the 40 tax increment financing plan for District 3-5 and approval of the decertification of the foregoing 41 parcels from Apache TIF District 3-3 in order to include them in the newly created District 3-5. 42 43 Mr. Inman stated the Planning Commission reviewed the Plan on September 16, 2003, and the 44 Commission found the Development Plan for TIF District 3-5 was consistent with the City's 45 Comprehensive Plan. 46