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EGty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.10 <br /> Agenda Section Meeting Date Prepared by <br /> Consent Aril 17, 2017 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> Tax Abatement Policy and Application Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion, the changes made to the EDA Tax Abatement Policy. <br /> Background/Discussion <br /> The Tax Abatement Policy and Application was approved by the City Council at their September 19 <br /> meeting. After further discussion with our financial advisor, and the EDA Finance Committee, the <br /> following 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 /> Total Points: Rating Points Max Eligibility <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 /> The EDA reviewed these changes at their meeting earlier this evening. Staff can provide an update to the <br /> Council if necessary. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ Property Tax Abatement Policy <br /> POWERED 6T <br /> AR <br />