HomeMy WebLinkAbout2011-10-05 PACKET 06.D.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 10/5/11 ` o
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
COUNCIL ACTION REQUEST
Public Hearing to consider a written spending plan for tax increment expenditures.
STAFF RECOMMENDATION
Continue the public hearing to November 16, 2011 to consider a written tax increment
spending plan.
BUDGET IMPLICATION
BUDGETED AMOUNT
ACTUAL AMOUNT
ADVISORY COMMISSION ACTION
DATE
REVIEWED
APPROVED
DENIED
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❑ PUBLIC SAFETY
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❑ PUBLIC WORKS
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❑ PARKS AND RECREATION
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❑ HUMAN SERVICES /RIGHTS
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❑ ECONOMIC DEV. AUTHORITY
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SUPPORTING DOCUMENTS
® MEMO /LETTER: Roland 9130/11
❑ RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
❑ OTHER:
ADMINISTRATORS COMMENTS
Administrator
6 4 -
e� kk
Date
COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER
HACound items \cc Action Form continue ph 100511.doc
(M City of Cottage Grove
Finance Department
TO: Honorable Mayor and City Council
Ryan Schroeder, City Administrator
FROM: Robin Roland, Finance Director `
DATE: September 30, 2011
SUBJECT: Continue the public hearing to consider a written Tax Increment spending
plan under the Jobs Stimulus Program (MN Statute 469.176)
Introduction
At the September 7, 2011 meeting the City Council set a public hearing at the October 5, 2011
meeting to consider a written Tax Increment spending plan. The public hearing was advertised
on September 21, 2011.
Discussion
The City is considering assistance to the Home Depot redevelopment project which might
involve qualified expenditures under the Jobs Stimulus Program. Negotiations are ongoing
and staff would like additional time to formalize any potential plan. Staff therefore requests
the required public hearing be continued until the November 16, 2011 Council Meeting.
Requested Action
Continue the public hearing to consider a written Tax Increment spending plan under MN State
Statute 469.176 until November 16, 2011.