HomeMy WebLinkAbout1996-05-22 TIF Commission MinutesMINUTES
RIVERSIDE TAX INCREMENT FINANCING COMMISSION
MAY 22, 1996
The Riverside Tax Increment Financing Commission met on May 22,
1996, at 7:00 p.m. at 4712 NW Gateway, Riverside.
Those present were: Jim Davis, Diza Eskridge, Jimmy Karr, Ron
Super, and Tim Weeks. Al Tunis arrived at 5:10 p.m.
Also present were: Ed Young, Don Coleman, Jr., Phil Snowden, Steve
Crystal, and Ann Daniels.
Chairman Ron Super called the meeting to order. The members spent
time reading the new information provided by Attorney Crystal.
Mr. Crystal shared the letter from Congresswoman Pat Danner, sent
to the Chairman of the House Appropriations Committee, which was a
rebuttal of charges made in a letter from Congresswoman Jan Myers
of Kansas stating the Riverside-Quindaro Levee would be detrimental
to the Fairfax area; was being built only to protect commercial
properties, and for the purpose of allowing a private developer to
protect his properties for future development benefit.
Congresswoman banner's letter explained the actual facts and
requested that the project be funded in the FY 97 budget.
The members reviewed the Draft Financing Plan presented by Steve
Crystal. During this review, Crystal explained that recent
legislation concerr_ing Neighborhood Improvement District Bonds
would not affect this project since first class counties, and the
cities in these counties, were exempt from the legislation.
Mr. Crystal discussed the possibility of holding a special election
to vote on the city's commitment of funds to building the levee and
approval to issue Neighborhood Improvement District bonds. The
election would be held on August 6, 1996. He noted that, pending
a final ruling from the Supreme Court on the constitutional
challenge to Neighborhood Improvement District bonds, the vote
might not be necessary.
It was announced that the Riverside-Quindaro Bend Levee District
Board would be meeting on May 23 to adopt their Resolution and
would begin workin: towards adoption of the Cooperative Agreement
for financing with the Corps of Engineers.
Mr. Crystal reviewed the proposed TIF plan with the members of the
Commission. He stated this would be a very limited plan, as a
first phase, and further development would be completed as the
project proceeds. The matrix developed for assessing levee
district and neighborhood development benefit for purposes of
assessing payments for the two bonds was reviewed.
Resolutions of support are in place from the Platte County
Commission, City of Riverside, and the Riverside-Quindaro Bend
Levee District and will be part of the package presented to the
Corps of Engineers on May 31, along with a letter from George K.
Baum and Company stating the sale of the bonds would be feasible
~.nd the intended funding mechanisms were acceptable.
A motion was made by Jimmy Karr, seconded by Diza Eskridge, to
approve the Minutes with the correction noted to remove Tim Weeks
from attendance. Motion carried.
The next meeting will be held on Wednesday, June 5, 1996.
Motion to adjourn way made by Diza Eskridge, seconded by Jimmy
Karr. The meeting adjourned at !ll~I ~•
i/ /
Ann Daniels, Secretary