09-10-1984 Council Packet - Laserfiche WebLink

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MINUTEC OF THE REGULAR COUNCIL MEETING HELD AUGUST 27, 1984. PAGE 11 TAX INCREMENT FINANCING Arlin stated that before the City enters into the project, that person should sign an agreement that they will be committed to redevelopment. Arlin stated that such agreement should state "not only do I agree to do development! but I will not challenge the City on this assesse" valuation". Arlin stated that it is not an inflated amount, but usually the value of the property plus the cost of the physical improvement of the land. Arlin stated that the City must give notice to the County and let them review the City'. rlans. Arlin stated that the County does not have the power to act on the plans, but only to review them. Arlin stated that it is good to include the community in the plans and also the school district. Arlin stated that the three types of districts are as follows: 1. Redevelopment area in blighted areas. Blight means that the City has something that presently exists, with five types of blight: a) obsolete buildings. Shculd be torn down or totally rebuilt. b) Zoning type of blight. Buildings ok but the layout is wrong and maybe should be rezoned. c) Areas in which the soil conditions are such that you could never put a new building on it, so you have to excavate and bring in fill. d) Acquisition of railroad properties. If the City tries to cut off railroad lots, the City would have to pay large fees for the railroad lards. e) Skyways over state or federal highways. 2. Low and moderate housing. 3. Economic: development. Bare land, but areas in which you have to put in public utilities. Arlin stated that districts 1 and 2 can run 25 years. Arlin stated that Navarre would fall under the redevelopment district. Mayor Butler stated that her idea of any redevelopment did not necessarily include the City going in and buying buildings and tearing down and starting all over again and then selling it back to him. Butler asked how the City would implement the doing. Butler stated that there is not a lot in Navarre for the City to do. Butler stated that the City doesn't have that much control over what Keaveny does with the physical aspect of their building. Butler asked how does the City make tax increment financing do what the City wants it todo by making Navarre a little nicer facade.