HomeMy WebLinkAbout2011-11-16 PACKET 06.A.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 11/16/11 &A
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
COUNCIL ACTION REQUEST
Continue the public hearing to consider a written spending plan for tax increment
expenditures.
STAFF RECOMMENDATION
Continue the public hearing to consider a written tax increment spending plan until January 18,
2012.
BUDGET IMPLICATION
BUDGETED AMOUNT
ADVISORY COMMISSION ACTION
DATE REVIEWED
❑ PLANNING ❑
❑ PUBLIC SAFETY ❑
❑ PUBLIC WORKS ❑
❑ PARKS AND RECREATION ❑
❑ HUMAN SERVICES /RIGHTS ❑
F] ECONOMIC DEV. AUTHORITY El
SUPPORTING DOCUMENTS
® MEMO /LETTER: Roland 11/10/11
❑ RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
❑ OTHER:
ACTUAL AMOUNT
APPROVED DENIED
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ADMINISTRATORS COMMENTS
7 /�ky
ity Administrator Date
COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER
H: \Council items \cc Action Form public hearing 90211.doc
City of Cottage Grove
Finance Department
TO: Honorable Mayor and City Council
Ryan Schroeder, City Administrator
FROM: Robin Roland, Finance Director
DATE: November 10, 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. At the October 5 th meeting, the public hearing was continued to the
November 16, 2011 council meeting.
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 January 18, 2012 Council Meeting.
Requested Action
Continue the public hearing to consider a written Tax Increment spending plan under MN State
Statute 469.176 until January 18, 2012.