ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to RECEIVE and FILE a PRESENTATION Report on the Current Status of the City’s TAX INCREMENT FINANCING (TIF) FUNDS.
Body
BACKGROUND: At the request of the Council, the City Manager and Finance Director will present an update on the current status of the City’s twelve (12) Tax Increment Financing Districts (TIFS) including the year of final property tax increment payment, projected balance at December 31, 2018 and an Executive Summary of Tax Increment Financing in Peoria.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: Peoria Public Schools has voiced concerns over the use of Tax Increment Financing Districts.
IMPACT IF APPROVED: N/A
IMPACT IF DENIED: N/A
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
2. Grow Peoria
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
2. Invest in our infrastructure and transportation.
DEPARTMENT: Finance