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Shakopee City Council
February 7, 2018
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| | | | | | | | | FROM: | Michael Kerski, Director of Planning and Development | | TO: | Mayor and Council Members |
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| | | | | | | | Subject:
Resolution No. R2018-012 allows for reimbursement from possible TIF funds for staff and consultant time for development of public infrastructure and associated costs and funding mechanisms for the redevelopment of Canterbury Park. | | |
| | | | | | | | Policy/Action Requested:
Resolution allows for the reimbursement of staff and consultant time should the project move forward | | |
| | | | | | | | Recommendation:
Approve Resolution No. R2018-012 to allow for an Interfund Loan for Advance of Certain costs in connection with proposed Tax Increment Financing District for Canterbury. | | |
| | | | | | | | Discussion:
This resolution allows the city of Shakopee to be reimbursed for staff time and any consultants used to review the application for funding (TIF) for the Canterbury project and evaluating infrastructure needs and costs. | | |
| | | | | | | | Budget Impact:
Funding of staff time and consultants will come from the EDA and the city's General Fund until such time that it is eligible for reimbursement. | | |
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