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Request for Action <br />ToItem Number <br />Economic Development Authority6.3 <br />Agenda Section Meeting DatePrepared by <br /> <br />General BusinessApril 17, 2017Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Updated Tax Abatement Policy and ApplicationCal Portner, City Administrator <br />Reviewed by <br /> <br />Action Requested <br /> <br />Approve, by motion, thechanges made to the EDA Tax Abatement Policy. <br />Background/Discussion <br />The Tax Abatement Policy and Application was approved by the EDA at their Septembe <br />After further discussion with our financial advisor, and the EDA <br />changes to the policy were recommended to the EDA for approval. <br />Tax Abatement Application Review Worksheet: now includes maximum eligibility percentage for <br />TAF: <br />: Rating Points Max Eligibility <br />Total Points <br />Overall project desirability: High 45-38 points 100% <br />Moderate 37-29 points 75% <br />Low 28-20 points 50% <br />Not Eligible 19-0 points 0% <br /> <br />Financial Impact <br /> <br />None <br /> <br />Attachments <br /> <br />Property Tax Abatement Policy <br /> <br />