Agenda Item Title:
Request from Tony Marshall for City Council authorization to allow Tax Increment Financing funds to be used for landscaping, grading & excessive excavation costs for anticipated Park Hill Residential TIF application.
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Agenda Item Summary:
The City’s Tax Increment District guidelines list several costs that are not permitted to be financed with TIF District dollars unless specifically authorized by City Council. The Petitioner is interested in creating a new TIF District to develop residential properties in the Park Hill Subdivision. Before an application for the new TIF district is filed, the petitioner is requesting authorization from City Council to use proposed TIF district funding for costs for landscaping, grading, and excessive excavation.
Funding Source & Fiscal Impact (if applicable):
Origination Recommendation Notes:
Authorize the use of TIF funding for these costs. Deny the request to authorize the use of funds for these costs.