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<br />Item # 6.1. <br /> <br /> <br />MEMORANDUM <br /> <br />TO: Mayor & City Council <br />FROM: Catherine Mehelich. Director of Economic Development f{ <br />DATE: July 6, 2004 <br /> <br />SUBJECT: Consider Resolution Calling for a Public Hearing on the <br />Establishment of a Downtown Phase I Tax Increment Financing <br />District No. 22 (A Redevelopment District) <br /> <br />Attachments <br />. HRA Resolution Requesting the City Council Call for a Public Hearing <br />. Schedule of Events <br />. Resolution Calling for a Public Hearing on the Proposed Adoption of a Modification <br />of the Development Program for Development District No.1 and the <br />Establishment of Downtown Phase I Tax Increment Financing District No. 22 (A <br />Redevelopment District) <br /> <br />Issue <br />At its June 30, 2004 special meeting the HRA adopted a resolution requesting that the City <br />Council call for a public hearing on the proposed establishment of a Tax Increment <br />Financing (TIP) district for the MetroPlains downtown revitalization project. The attached <br />Schedule of Events outlines the statutory process for the establishment of the TIF district. <br />One of the first steps in establishing the district is for the City Council to schedule a public <br />hearing on September 20, 2004 to consider the TIF Plan. Ehlers & Associates is working <br />with staff to prepare the TIF Plan and related publication and notification requirements. <br /> <br />Recommendation <br />Staff recommends that the City Council, at the request of the HRA, adopt the attached <br />Resolution Calling for a Public Hearing on the Proposed Adoption of a Modification of the <br />Development Program for Development District No.1 and the Establishment of <br />Downtown Phase I Tax Increment Financing District No. 22 (A Redevelopment District). <br />