Laserfiche WebLink
.. n.oe 3 <br /> A 'PA veeting 3/16/bl <br /> 411 6. Cont. <br /> rest of the blighted area, creating more shops and jobs. The basic difference between <br /> the two is an economical district pays off in 8-1' years and a redevelooment district <br /> in yearlealt section. Fe suggested keeping the tax increment districts small <br /> Which would be easier to administer and any area not developed within the three year <br /> time limit loses out on the tax increment. <br /> Commissioner Finkle asked about financing a redevelopment Plan. Suggestions were <br /> made it could come from the General Fund or be tacked onto a Public imnrovement or <br /> tax increment. It could be financed through joint venture of PP and develoPers <br /> as in Procedure 3. The cost for a redevelopment olan would be around k11-12 thousand <br /> depending on Plan used, Plus 4t5..6 thousand in attornies fees. The Authority decided <br /> it would like to meet with vre qellergren to discuss how a redevelo -ment -lan can <br /> be financed, where to find monies to ray back cost of redevelopment plan, inter- <br /> 411 pretation of public imnrovements, does he agree with tax increment plan and borrowing <br /> from the General Fund and reimbursing this fund, can the PRA contract with a developer <br /> and can it be done as a team, and commitments to be expected from each party. <br /> 4 feasitilit7 study w-s discussed. 7ack Johnson commented that it would be relatively <br /> easy to cut one together because of -'he new Land Use yaps, the subdivision uodatet, <br /> the Chamber of Commerce Market 7tudy. He also mentioned the Sunshine )erot and <br /> Fnterprise Buildingx remode'ing prole-ts could be included in the tax increment (Any- <br /> .P <br /> thing done with' 1E' months perior to redevelopment Plan can be included. \ <br /> 7. )owntown nevelo-ment Task Force <br /> he status and relationship of the nowntown nevelopment Task Force to 9.A was discussed. <br /> Commissioner Schumacher said he will attend their next meeting on "arch 19 and advise <br /> them of what is hannening as far as the Tm4 is concerned. The Commissioners felt the <br /> Task Force is an important part of the downtown development and should be relognired <br />