Resolution 2006-59 - Laserfiche WebLink

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5. The City Council will seek to have the urban renewal authority change it meeting hours to evening hours so that interested citizens have a greater opportunity to participate in its meetings. 6. The finding of blight is a necessary finding for proceeding with a Plan, but is not intended as an impetus for exercising eminent domain As provided in the Plan, the urban renewal authority may not exercise any power of eminent domain without City Council approval. Thus, this power is effectively retained by the City Council and the Plan does not alter the City's current power in this regard. The City Council recognizes and appreciates that historic homes and other buildings are a vital part of what makes our town unique. We prefer renovation and restoration of historic buildings over demolition. 7. The City Council recognizes that homes and /or businesses may be adversely affected by the commuter rail tracks and station and that this project is under the control of RTD and not the City Council. The City will work with RTD to mitigate these impacts. While the Plan does not affect the rail project, it may provide money for mitigation of impacts of the RTD project that would not be available without the Plan. The widening of Highway 42, while not a part of the urban renewal plan also may have similar unavoidable impacts and the Plan may also help mitigate those impacts as well. 8. For all projects proposed by the urban renewal authority using increment financing, a fiscal analysis of direct and indirect costs will be provided. Such analyses will include, but not be limited to, factors such as the impact on the general fund, a cost/benefit analysis using an appropriate discount rate, a new project's anticipated impact on sales tax that would otherwise be generated/received from downtown and other city businesses, and the rate of return to the City, and when such return will be realized, based on the investment of tax increment funds. The County and Fire District shall be invited to comment on these analyses. ATTEST: outlining amounts and uses proposed of sale tax increments. ales tax increment financing will not be utilized under the Plan until City Council has reviewed and approved a fiscal analysis of the impact such increment financing would have on the City's general fund and the City's ability to provide services to the entire City. The City Council will take public comment on any proposal to allocate sales tax increments. The Council is mindful of its existing ability to use sales tax abatement/sharing as an alternative means of inducing retail development and to bond public improvements using sales tax revenues via voter approval. PASSED AND ADOPTED this day of , 2007. Nancy Varra, City Clerk Charles L. Sisk, Mayor