ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to RECEIVE and FILE the RECOMMENDATION of the JOINT REVIEW BOARD/URBAN DECAY TAX ABATEMENT BOARD to Adopt an ORDINANCE to Establish the URBAN DECAY TAX ABATEMENT AREA.
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BACKGROUND: On September 22, 2020, the City Council provided direction to staff to establish an Urban Decay Tax Abatement Area. As part of the process to establish the tax abatement area, the existing Joint Review Board (JRB) was convened to review the proposal. The JRB convened on October 22, 2020. At the meeting, Councilman Kelly presented the proposal, as well as the ordinance to establish the Urban Decay Tax Abatement Area. As part of this meeting, each body represented on the JRB was asked to provide a designee for the Urban Decay Tax Abatement Board. Upon discussion, the JRB moved to defer discussion to the next meeting. The intention of the deferral was to allow each representative an opportunity review the ordinance and provide any findings. On November 5, 2020, the JRB was reconvened. A motion was made and approved to have the Joint Review Board act as the Urban Decay Tax Abatement Board. Additional discussion was held regarding the ordinance. School District 150 representatives expressed concerns that they needed more input from their board. A motion was made to recommend approval of the ordinance to establish the Urban Decay Tax Abatement Area and the Joint Review Board/Urban Decay Tax Abatement Board approved unanimously with the School District 150 representative abstaining from the vote.
The Council next step will be to adopt two ordinances (minimum 45 days after JRB meets):
a. An Ordinance to remove property from the existing East Village TIF
b. An Ordinance establishing the Urban Decay Tax Abatement Areas.
FINANCIAL IMPACT: Approval to receive and file the recommendation of the Joint Review Board/Urban Decay Tax Abatement Board does not obligate the Council to e...
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