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A Motion to approve the Residential Tax Abatement Agreement with Palma Holdings, LLC under the 5 <br />in 5 Housing Infill Development Program was made by Mr. Cecil and seconded by Ms. Hammond. Motion <br />carried, 6 ayes — 0 nays. <br />5. Discussion and possible action regarding the removal of Sub -Zone 4 from the TIRZ boundary. <br />Ms. Hammond explained her reasoning for recommending the removal of Zone 4 from the TIRZ, noting <br />that it was not generating sufficient revenue and could take several years to produce a substantial retun-1. Mr. <br />Mathieu inquired about the location of the lift station, and Ms. Hammond read an email from the City Engineer <br />indicating that a replacement would be beneficial. Following further discussion and questions from the Board, <br />Ms. Harris suggested presenting a draft Ordinance at the next meeting to remove Zone 4. By consensus, the Board <br />agreed to have Ms. Harris submit the request to City Council for the removal of Zone 4 from the TIRZ. <br />6. Review of the Financial Projection Tool and matters relating to updating the Tool. <br />Mr. Mathieu reported that he had not received a response from Mr. Denney regarding the update. With no <br />new information available, the Board proceeded to the next item. <br />7. Request future agenda items. <br />- Draft Ordinance for the removal of Zone 4 <br />- Update on the Financial Projection Tool <br />- Toole Plan/Chris Lambka <br />- Update on I" Street Renovation Project <br />8. Adjournment. <br />There being no further business, a Motion to adjourn was made by Mr. Hayter and seconded by Ms. <br />Norwood. Motion carried, 6 ayes — 0 nays. Chairman Head adjourned the meeting at 4:26 P.M. <br />I <br />Page 2 of <br />