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Orono Woods Schedule <br /> May 8, 2001 <br /> Page Two <br /> May 14, 2001 City Council holds public hearings on <br /> 1. Establishment of Tax Increment Financing District No. 1-1. <br /> 2. Adoption of Housing Program. <br /> 3. TEFRA hearing on issuance of housing revenue bonds. <br /> The City Council will conduct the hearings for each of the above, but will not take <br /> any approving actions on this date. <br /> May 29, 2001 City Council(1) adopts resolution approving the Development Plan and TIF Plan, <br /> (2) adopts resolution approving Housing Program, and (3) adopts resolution <br /> approving issuance of the housing revenue bonds. <br /> HRA(1) adopts resolution approving the Development Plan and TIF Plan, and(2) <br /> adopts resolution approving Housing Program <br /> This date assumes that the regular meeting is moved due to Memorial Day. These <br /> action may also be taken at a later meeting. The City has 60 days from the date of <br /> submission of the Plan by the HRA to approve or disapprove. <br /> June 9, 2001 HRA development agreement. <br /> City Council approves development agreement and 501(c)(3)bond documents. <br /> By June 30,2001 Ehlers certifies District with county and state. <br /> *Because the City staff believes that the proposed tax increment district will not require unplanned county road improvements,the TIF <br /> Plan was-met-forwarded to the County Board 45 days prior to the public hearing. The County Board, by law, has 45 days to review <br /> the plan to determine if any county roads will be impacted by the development. Please be aware that the County Board could claim <br /> that tax increment should be used for county roads,even after the public hearing. <br /> 0EHLERS <br /> 3 A;S:,"IAT"S I\� <br />