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REQUEST FOR CITY COUNCIL CONSIDERATION <br />ITEM DESCRIPTION: Consideration of Resolution Authorizing Early Decertification of <br />TIF District No. 18 – Remmele, CBD West <br />DEPARTMENT HEAD’S APPROVAL: <br />Brenda Davitt, Finance Director <br />CITY MANAGER APPROVAL: <br />No comments to supplement this report _______ Comments attached ______ <br />Recommendation: To approve and authorize the Resolution Authorizing Early Decertification <br />of TIF District No. 18 – Remmele, CBD West. <br />Legislative History: On October 1, 1992, the City certified TIF District 18 to facilitate the <br />development of a 150-unit multi-family housing project and a 100,000 sq. ft. manufacturing <br />facility. <br />Financial Impact: By decertifying TIF District No. 18 as of 12/31/2018, the City’s overall tax <br />capacity will be increased. For taxes payable 2019, the captured tax capacity of the district is <br />$295,097. <br />Explanation: This redevelopment district no longer has any outstanding debt obligations and is <br />recommended to be de-certified. <br />_________________________ <br />Brenda Davitt <br />Finance Director <br />Attachments: Resolution <br />AGENDA SECTION: Consent <br />REPORT DATE: August 23, 2018 <br />MEETING DATE: August 28, 2018