Gwen Jones - Made some background comments. We thought it would be prudent to take a look at this, having the history of how projects have come together and our community. From the research, we have learned more about tax increment financing as a tool. It is used in 49 states. It is used differently in different jurisdictions. It is very flexible that can be used in different ways in different places. When not working well, it has been changed. We have a very successful program in Missoula.
Bryan von Lossberg - Thanks for the efforts in getting us to this point. It is the product of much work over many years. Dale will discuss the main points of this resolution he will be discussing.
Jordan Hess - The high points have been covered. This is the best tool we have in investing in our community.
Dale Bickell - Presented specifics on the resolution. A presentation was shared. Please refer to attached presentation for specifics.
Jesse Ramos - Offered suggestion on wording of resolution, which Gwen Jones asked him to email to the sponsors of the resolution.
Amber Sherrill - Thank you for bringing this forward, as it has involved a lot of work. What happens if property values were to decrease significantly?
Dale Bickell - We will need to look at individual scenarios, which we will be doing next week.
Heather Harp - This is a very thoughtful resolution. Our issues are focused around housing, infrastructure and childcare. We need to restructure things before we lose the support for TIF financing. Respectfully, how many people who were invited to give input on this, particularly those who have strong feelings about TIF?
Gwen Jones - In my 6 years on Council, I have had many discussions with people who have specifics feelings about TIF. I have brought all of these discussion points into consideration when working on this project.
Bryan von Lossberg - I would have to say it has been very similar in my case. I have tried to understand both the criticism and the critics, a well as the advocates. This wasn't a formal process, but I have had much interaction through the years, from both sides, regarding this subject.
Jordan Hess - As for the wording in the resolution, "Intent" vs. "Shall." Intent recognizes the strong will of the City to do as it proposes. It gives us flexibility to change course if necessary. I think this is a good choice for a word. I appreciate the concern around that. I would like to make the motion to set the public hearing.
Gwen Jones - I do think the wording "intent" vs. "shall" does need more thought. Please send us the email, Jesse.
Council members posed questions on some of the specifics of the resolution.
Public comment called for and there was none.
This to be moved onto consent agenda.