Discussion:
The city may expend funds for demolition and other qualified costs incurred within a potential Redevelopment/Renovation TIF area in downtown Shakopee. Should the TIF District No. 18 be approved at a later date, those costs expended by the city may be reimbursed from funds received since the EDA would serve as the administrator for the TIF.
Without this resolution, the city would not be able to be reimbursed for expenses at a later date should a TIF be formed.