HomeMy WebLinkAbout1998-10-21 TIF Commission MinutesMINUTES
TAX INCREMENT FINANCING COMMISSION MEETING
OCTOBER 21, 1998
The Tax Increment Financing Commission met in regular session at 4:30 p.m. on Wednesday,
October 21, 1998 at the City Hall Annex, 4712 NW Gateway, Riverside, MO. The Chairman,
Ron Super, called the meeting to order. Roll Call was answered by the following members: Bill
Bright, Al Tunis, Tim Weeks, Ron Super, Jim Davis, Michael Short, Diza Eskridge, Kent
Jackson and Phil Krause. Absent members were: Jimmy Karr and Ann Daniels. Also present
were: Steve Crystal, TIF and City Attorney and Deborah Polk, attorney. Steve Crystal acted as
secretary of the meeting.
The Minutes of the last meeting were approved with the following corrections:
a. $1,240,000 changed to $2,350,000;
b. Mike Short was present; and
c. delete reference to City's $2,800,000 contribution in paragraph dealing with
Project II.
Discussion then ensued regarding the allocation and priority of such allocations among the
taxing jurisdictions, the City, Trillium and Project II, including the investment of each of the
parties, the risk involved as well as the appropriate level of reimbursement based in part on that
risk.
Discussion was held regarding having an independent third party performing an analysis of the
best, average and worst case scenarios' of development and generation of TIF revenues. It was
generally agreed that this should be done with the question remaining as to the timing of such
analysis. There was a general consensus that this analysis should be done in the future but
before final documents and plans are approved. As a part of this discussion, concern was
expressed over the appropriate level of reimbursement, if any, for Redevelopment Project II. In
order for the commission to more fully evaluate this matter, Steve Crystal is either going to have
a rough rate of analysis performed in connection with the Trillium property or request from
Trillium its rate analysis which would then be analyzed. This analysis will be discussed at the
next meeting.
When all discussion had been exhausted, the meeting was adjourned at 5:45 p.m.
The next meeting will be held on Wednesday, November 4, 1998, at 5:00 p.m. at the City Hall
Annex. ,~
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