04-07-1981 HR MIN - Laserfiche WebLink

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pave 2 6. (Cont) side. There was a bill passed by the Urban and Local Affairs Subcommittee with no great changes except there will be severe restrictions on the use of increment funds for raw land. Funding for raw land development is going to be available under only extreme circumstances. It also tightens up requirements for FR4 determination of findings to make authoriv'd tax increment financing and to maintain more con- nection with the County Poard. The Senate has a number of bills which range from eliminating tax increment financing, to making all action taken by the RRA an ordinance (rather than resoluction and that ordinance be subject to referendum to limiting use of tax increment financing to pay for any time of utility construction. They want the cities to a9ess for utility improvements. 7. fefinition of u9n pole in the nowntown .Area and the Role of the nowntown Task Force Zack Johnson discussed the attached memorandum. On Item 1 he felt that within 2-5 years there will be a major shocning center on uighway 169 which will have a major impact on the downtown area. He said a lot of businesses will cove out of the down- town area creating empty shops which would create a real problem. Item 2, he slid that the impact of a major shopping center could be alleviated by staging the devel- opment of the shoo sing center to coordinate withthe downtown redevelonment. One of the tools to be used w's the p.U.'% plan set up by the Ordinances. Item 1- yr. Johnson has talked with Buffalo and Princeton regarding their redevelopment clans. poth are satisfied with their clans which are detailed as to the time of use and design controls on a ner block basis. nave Sellergren cautioned the Authority against designating tax increment districts too soon, citing Chanhassen who has had a plan on the books for 1-1, years and is lust now getting going. Zack Johnson stated that it is disadvantageous to let the 'arivate sector do the clann ng because current rates make it imcossitle for thrm to do this and the city then has no control over what goes where. Financing a redeveloament clan was discussed. Mr. Sellergren said the Authority has several options to finance this plan; (1) l a tax certificate for next yearts taxes, (2) take it from the general fund, (3) borrow the