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6.0. HRSR 01-28-2002
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6.0. HRSR 01-28-2002
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City Government
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HRSR
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1/28/2002
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• In light of recent litigation activity involving a municipality's interpretation of the statutory <br /> TIF qualifications redevelopment ualifications and definition of"structurally City substandard", the Ci staff <br /> believes that there is not substantial evidence to qualify the proposed area for a TIF <br /> redevelopment district. Attached are two recent articles,which provide background to the <br /> recent scrutiny of TIF redevelopment qualifications. <br /> Recommendation <br /> Staff has notified the developer in writing of the following recommendation being presented <br /> before the EDA, HRA and City Council: <br /> Based upon the initial assessment of redevelopment qualifications, staff recommends that <br /> tax increment financing not be considered to assist a redevelopment project for a <br /> redevelopment project of the NE corner of Hwy 169 and Main Street. <br /> The City has had inquiries about smaller projects at this intersection—specifically just the <br /> City property and Ron's Foods. Staff has indicated that the City Council, EDA, and HRA <br /> desire a larger redevelopment area,but has also indicated that the City would consider selling <br /> its site for a smaller project that meets some of the City's economic development goals. <br /> Staff suggests an asking price of$400,000 for the City's .76-acre parcel. As an alternative to <br /> TIF, the City may consider the use of Tax Rebate Financing for projects that meet the City's <br /> economic development goals. <br /> • <br />
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