Laserfiche WebLink
Item No. 11 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Stephanie, City Attorney <br />SUBJECT: Residential Tax Abatement Agreements <br />DATE: 01 -03 -2017 <br />BACKGROUND: On October 14, 2013 the City Council passed Ordinance No. 2013 -036 <br />creating Reinvestment Zone No. 2013 -1 for Residential Tax Abatement. This reinvestment zone <br />included all areas inside Council Districts 1 - 5. At the same time, Council adopted Resolution <br />2013 -23, which adopted guidelines and criteria for such residential tax abatements. On February <br />9, 2015 the City Council passed Ordinance No. 2015 -002 amending Reinvestment Zone 2013 -1 <br />for Residential Tax Abatements to expand it to include all Council Districts in the City and <br />designated the new reinvestment zone as 2015 -1. <br />STATUS OF ISSUE: To be eligible to participate in a residential tax abatement program the city <br />must adopt guidelines and criteria every two years. The current guidelines and criteria expired in <br />October of 2015. <br />BUDGET: N/A <br />RECOMMENDATION: Approve the resolution re- adopting criteria and guidelines for <br />residential tax abatements. <br />