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Housing&Redevelopment Authority Page 2 October 4,2004 5. Downtown Revitalization Project Update • 5.1. Consider Recommendation to City Council on the Establishment of Downtown Phase One Tax Increment Financing District No.22 (A Redevelopment District) Director of Economic Development Catherine Mehelich stated that this issue was postponed at the last HRA meeting due to the necessity to add four new parcels to the Tax Increment Financing(TIF)District for the proposed Downtown Redevelopment Project. Ms.Mehelich also stated that as a result,the previously scheduled City Council public hearing was rescheduled for November 1,2004,the TIF Plan was amended,and the County and School District were provided new notices. Sid Inman of Ehlers and Associates presented the reasons and facts supporting the findings for adoption of the TIF Plan for Downtown Phase 1 TIF District No.22 as outlined in the TIF District Overview prepared by Ehlers and Associates. Ron Seymour of Short Elliott Hendrickson,Inc. (SEH)reviewed the redevelopment eligibility assessment for the proposed downtown revitalization project.Mr.Seymour explained the purpose,scope of work,findings,procedural requirements,and qualification requirements as outlined in the September 23,2004 report prepared by SEH.Mr.Seymour stated that the surveying and evaluating that SEH completed of the properties within this proposed redevelopment district render results that in their professional opinion qualify the district eligible under the statutory criteria and formulas for Tax Increment Financing District Funding. Chair Wilson questioned who ultimately approves the TIF District.Mr.Inman stated that • the City Council approves the District and that there is a mandatory waiting period prior to the District taking effect. MOVED BY COMMISSIONER TOTH AND SECONDED BY COMMISSIONER LIESER TO ADOPT RESOLUTION 04-03 RECOMMENDING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1,ESTABLISHING DOWNTOWN PHASE 1 TAX INCREMENT FINANCING DISTRICT NO.22 THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR.MOTION CARRIED 4-0. 6. Updated Research and Concept Options for Downtown North of Highway 10 Assistant Director of Economic Development Heidi Steinmetz provided background information on the redevelopment plan for the downtown north of Highway 10.Ms. Steinmetz stated that the next step in the redevelopment planning process is the development of concept options.Ms.Steinmetz provided information on updated research including the Market Analysis,Historical Significance Analysis,and the Building Condition Analysis.The results of the updated analyses are as follows: • The Market Analysis has not changed.Support still remains for a shift to higher density residential and office/service versus retail in the Study Area. • One area and five specific homes were added to the Historical Significance Analysis. • 108 buildings were added to the Building Condition Analysis.Of the 108 buildings,57% were considered to be in"good" condition,31%were considered to be in"fair" • condition,and 11%were considered to be in"poor" condition.