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City of <br /> Elk - Request for Action <br /> River O. <br /> To Item Number <br /> Mayor and City Council 4.9 <br /> Agenda Section Meeting Date Prepared by <br /> Consent March 3, 2014 Brian Beeman,Director of Economic <br /> Development <br /> Item Description Reviewed by <br /> Resolution Calling for Public Hearing for Black Jeremy Barnhart,Deputy Director, CODD <br /> Hawk Housing Tax Increment Financing Reviewed by <br /> Cal Portner, City Administrator <br /> Action Requested <br /> Establish, by motion, a public hearing for Monday,April 21, 2014, for proposed Tax Increment <br /> Financing (Housing) District No. 24 (Black Hawk Woods Housing Project) as recommended by the <br /> Housing and Redevelopment Authority (HRA). <br /> Background/Discussion <br /> With the recent development of a Housing TIF policy and scoring sheet,the Black Hawk woods project <br /> is moving through the review process. <br /> Springsted has reviewed and re-scored the Black Hawk Senior living project utilizing the newly updated <br /> housing TIF scoring worksheet.The project scored on the low end of the moderate scale with a rating of <br /> 22. This is enough points to bring the project forward for consideration. As part of the TIF process, a <br /> public hearing held by the City Council is required. The county and school are also required to be <br /> notified. <br /> A description of the Black Hawk project is outlined in the attached March 3, 2014, regular HRA meeting <br /> staff memo. <br /> Staff requests the City Council to set the public hearing date for this project. Springsted, the city's <br /> financial consultant,will be available if needed to answer any questions pertaining to the project. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> • HRA Black Hawk Housing TIF Packet, dated March 3, 2014 <br /> • Resolution Calling for Public Hearing for proposed TIF District No. 24 <br /> P a w E A E U s r <br /> NaA f RE] <br />