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Revitalization Commission <br />Minutes <br />December 10, 2012 <br />Page 2of 2 <br />Karl commented that as City grows there is a need to have commensurate role in <br />management of events, specifically with regard to safety.The Friday night <br />parade of lights seemed to overwhelm the people running it; Karl witnessed a <br />child being injured by a parade float. Carlos asked about forming a Downtown <br />Business Districtto, among other things, better manage events. Michael <br />mentioned there has been some historic opposition that needs to be considered <br />first, and the timing may not be right. Michael suggested Carlos informally meet <br />with him and some local business owners and/or property owners to see how <br />they feel about forming a District, before asking them to speak at an LRC <br />meeting. Sam addressed potential liability to the LRC in case of injury on a <br />project LRC is/was involved with. <br />Business Matters of the Commission– <br />a.Review/Discuss key elements of TIF application. Michael expressed <br />concern about Draft Concepts 3 and 4 in the <br />Discussion of Special <br />document that was <br />Session for Application and Evaluation Process <br />part of the packet.A lengthy discussion by LRC members followed. <br />Two main concepts of structuring assistance were being debated; 1) to <br />utilize tax increment from properties within the entire TIF District to <br />provide up-front funding to a project, or 2) utilize the tax increment from <br />a specific property to provide up-front funding to a project. Each <br />financial structure has differing effects on allocations of TIF to future <br />projects. <br />Karl wanted to explore how to pay back developers that invested in <br />infrastructure, and what would happen if a project failed. <br />The discussion also covered how to select a project to fund, and where <br />the money would come from. Opinions were expressed on how large <br />the area collecting TIF revenues should be(either district wide, or a <br />subarea). Michael argued the areawas already defined when the <br />boundaries of the URA were set. Carlos proposed creating zones (or <br />subarea) within the URA asan option. <br />Items for Next Meeting –Not discussed <br />Commissioners’ Comments–None <br />Meeting Adjournedat 9:20AM <br />