ORD 2021-037/ Amending Project Plan and Reinvestment Zone Financing Plan for Tax Increment Reinvestment Zone No 5 Downtown TIRZ

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acquisition. County Commissioners Shell and Ingalsbe requested detailed information be presented prior to land acquisitions and the benefits of the specific parcels. 7. Hold discussion for continued tax support to the TIRZ #5 District at 25% for FY22 and take action as appropriate. Ms. Kalka presented the revisions to the Plan. She identified the proposed redlined estimates for the City and the County if the Board agrees to extend the lowered contribution from 70% to 25% for an additional year. Also included were minor clerical changes not previously updated. Mr. Mylius inquired on end of year balance. Ms. Kalka answered to amount left if projects stay on budget. Concerned about balance not able to leave any contingency for possible upcoming land acquisitions. Discussion continued possibility of using future TIRZ funds out of a particular year with intent shown at time of purchase. Comment from Commissioner Shell to consider County contribution from Reserve Fund. Mayor Hughson made a motion to amend tax chart in Project & Financing plan to remove the row labeled 2021 Est @ 70% and est @ from row labeled 2021 est @ 25%, seconded by Council Member Baker. Approved by a vote of 5-0. Motion to accept plan with all revisions and extension of 25% tax rate for Fiscal Year 2022. Approved by a vote of 4-1 with Mr. Mylius against. 8. Future Agenda Items. Mayor Hughson recommended routine meetings. Quarterly meetings to cover a Financial Report on each category/project to include encumbered and spendable amount not currently allocated. Monthly project updates requested. Board in agreeance with quarterly meetings, sooner if needed. Motion to adjourn made by Shell, seconded by Mr. Baker. approved by a vote of 5-0. The meeting adjourned at 4:55 p.m.