06 - Minutes - Boards & Commissions

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there ivouldbe. Commissioner A larid said that sometimes it is hard to obtain insurance and this is his concert?, since he had a roof'collapse due to excessive ivater. Commissioner Hider stated that liability insurance is dffi .1erent drat full coverage property insurance, and wasn't the same 1'a roqfis leaking. Commissioner Dux noted that it the requirement wasJbr property damage and bodily injury, and this protects adjacent property owners and people.. Commissioner Hider noted that liability insurance is pretty inexpensive. Mr, Godwin suggested a list be developed qf companies who will insure old buildings, Commissioner Emmite asked ifthe registry would be required if the includes a plan to restore, Mr. Godivin replied, ,yes it ivould, and the registration includes a restoration plan as a component. In other words, �fa property was being developed and is vacant, it would still be required to be registered until occupied. Chairman Dux said he wanted to note that Historic Preser-nation does have a positive impact on the community, and the Historic Preservation Commission does work hard to presen,,e the buildings. But at the same time there are others buildings deteriorating, and this is counterproductive to their ef ,f6rts, It was his recommendation to endorse the vacant property registry. Commissioner Coyle said he did like the idea o allowing the vacant property registrV not to kick in until the first of the year to allow owners who are looking. for, insurance and creating their plan to have time to do needed research, and get design renderings. Commissioner Dux was interested in developing a list o 'thosepersons ww=ho do dif Prent type of work on a historic building such as glazing windows, repointing brick, and repairing other features that are deteriorating, as the resources can be hard tofind, Mr. Godwin said it would be good idea to develop a list ref the people who are available to do specialty ivork., Commissioner Dux asked if the commission wanted to vote to endorse the Vacant Property Registr y. Commissioner Gayle made the motion to endorse the Ordinance, seconded by Commissioner Hider, Motion carried 5 -, 0. 6. John Godwin made a presentation of TIRZ incentives for downtown. Mr. Godwin explained the details and requirements of the Tax Increment Reinvestment Zone (TIRZ) and how it is to be use to incentivize blighted areas. The premise is developing a redevelopment zone, determine the starting bench mark, developing a plan for improvement, and capturing of the taxes for the special district above the bench mark and use them./or public improvement. No taxes raised, no nem, money, butf�,nds are reallocatedf6l- public improvement./br the designated blighted area. There are qualification, plans, boundaries, specific tune periods, creation of 'a board that will approve the project plans, and the pay back plan option with TIRZ bonds, municipal bonds, loans or reimbursement to the developer. Mr. Godi,vin took time to answer the commissioners question and provide any clarification. After much discussion, Commissioner Hider made the motion to endorse the creation of a TIRZ district to the City Councillor downtown, seconded by Commissioner Alarid, Motion carried 5 .-0