1998-08-10 Regular Meeting and Workshop of City Council

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I I I I I I I I I I I Paul Martin Knox Askins I I ASsignments Paul Martin Je1fLitchfie1d chec:k tax ron I ~;=d, DavidFetzer - . IetILitchfie1d I II!'I!' Paul Martin Paul Martin · Questions ou TIF Proposal · July 22, 1998 1) The boundaries of the TIF Zone need to be identified. 2) A scope of work defining the concept proposed and the identification section of the Tax: Code, which will be followed in petitioning a TIF Zone. 3) Is there a phase I or is the entire submitted proposa1going to be built all at once? If a phasing plan is proposed, please identify. 4) You indicated the school district and county already have agreed to a TIF Zone, in concept, for this project. We will need a letter from the LPISD as well as from Commissioner Jim Fonteno indicating their agreement to the creation of a TIF Zone and at what tax levels they will participate. Sometime after the August 10 Workshop, the City will need resolutions from the LPISD Board and Harris County Commissioners Court stating their position. 5) Depending on funding choices (other than pre-funding) when do you expect some refund on project expenses? After a planned phase of development or after build out? 6) What date contained within the TIF proposal is scheduled for termination of the zone? 7) If the LPISD does not participate with the TIF concept, will this project move ahead? 8) If the City agrees to create the TIF, does it have to participate with freezing ad valorem taxes? 9) Ifwe do a TIF for this project, can we turn down a request from a similar developer? 10) A written letter signed by the property owners requesting the Reinvestment Zone who own over 50010 of the property. 11) We would like to know the developer who will build the project along with their prior history in subdivision development. 12) We will need to review the financing plan for the project and will need to visit with the financial institution, which will provide the interim financing. 13) All delinquent property taxes on the area proposed by the TIF Zone will need to be brought current. The City has an ordinance, which does not allow the City to do business with firms, companies, or individuals who owe delinquent property taxes within La Porte. 14) What are the dUTerences between a regular TIF and a TIF that is created by a petition? 15) The TIF statute calls for 1/3 of the taxes to be dedicated and used to support low income housing within the boundaries of the TIF area and possibly within other parts of the City. True or False? a) What is the definition of low-income housing?