Item Coversheet

10.A.1.


Shakopee City Council
May 1, 2018

FROM:Michael Kerski, Director of Planning and Development
TO:Mayor and Council Members
Subject:
Set a Public Hearing date for July 3, 2018 for Tax Increment Financing District No. 19
Policy/Action Requested:
Set a Public Hearing  date for Tax Increment Financing District No. 19
Recommendation:
Approve Resolution No. R2018-057 calling for a Public Hearing on a Tax Increment Financing Plan for Tax Increment Financing District No. 19 and a Modification of the Redevelopment Plan for Minnesota River Valley Housing and Redevelopment District No.1
Discussion:

The River Bluff area is a possible Redevelopment District for the development of a mixed use project.  The developer will be presenting to Council and the EDA its plans at the June 5, 2018 meeting.

 

The city has contracted with Terracon to complete soil borings and environmental review of the site along First Avenue between Scott and Atwood streets and the river.

 

A TIF District could be used to reimburse the city for acquisition and research expenses  and utility relocations and the developer for demolition and rock removal and construction of new public infrastructure. 

Budget Impact:
ATTACHMENTS:
Description
Resolution