File #: 23-0387    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/17/2023 In control: Reinvestment Zone No. 2 - Island
On agenda: 4/18/2023 Final action: 4/18/2023
Title: Discussion and possible action on amendments to the Project and Financing Plan for the Tax Increment Financing Zone #2 (TIRZ #2), including a recommendation to fix the amount of the City’s tax revenue contribution at 100% for the first five years, 75% for year 6, 5% decrease each year for years 7-10, and 50% for years 11-20 and recommending the addition of up to $150,950,000 in projects and programs that benefit the TIRZ. .
Attachments: 1. Agenda Memo-Discussion of future revenues, expenses, and contribution percentages (1), 2. April 18, 2023 TIRZ presentation

Title

Discussion and possible action on amendments to the Project and Financing Plan for the Tax Increment Financing Zone #2 (TIRZ #2), including a recommendation to fix the amount of the City’s tax revenue contribution at 100% for the first five years, 75% for year 6, 5% decrease each year for years 7-10, and 50% for years 11-20 and recommending the addition of up to $150,950,000 in projects and programs that benefit the TIRZ.

 

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