Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
Agenda Title:

Tax Increment Financing 5 Year Review
Recommendations:

This presentation is for informational purposes only on the 5 year update on the Tax Increment Financing plans for Eastland, North Independence, Old Landfill, Mt. Washington, Santa Fe and Trinity.
Executive Summary:

Staff will present the 5 year update on 5 TIFs - Eastland, North Independence, Old Landfill, Mt. Washington, Santa Fe and Trinity.
Background:

After the approval and commencement of a Tax Increment Financing Project, the City is required to review the progress of projects on a five-year rolling calendar.  The TIF projects under review this year are: Eastland, North Independence, Old Landfill, Mt. Washington, Santa Fe and Trinity.

 

All of the TIF Plans were approved for a period of 23 years with the TIF capturing 50% of the Economic Activity Taxes (EATS) and 100% of the Payment in Lieu of Taxes (PILOTS).  The Eastland TIF, North Independence TIF, Mt. Washington TIF and Santa Fe TIF were all approved in 2000 followed by the Old Landfill TIF and Trinity TIF in 2005.

 

After the 5 year TIF presentation, a public hearing is scheduled for the City Council meeting on Tuesday, September 8, 2020.

Department:          Community DevelopmentContact Person:          Tom Scannell

REVIEWERS:
DepartmentAction
Community Development DepartmentApproved
City Clerk DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
PresentationPresentation