Resolutions-2013-128

Description of Location and Use of TIF for the Roberts Ferry Road Overlay Project: It is anticipated that the City will pay for the Roberts Ferry Road Overlay Project with either borrowed funds or the proceeds of an internal advance of City funds on-hand. In either case, the City’s obligation will be repaid with incremental property tax revenues. It is anticipated that the City’s use of incremental property tax revenues for Roberts Ferry Road Overlay Project will not exceed $80,000. 5) Name of Project: Jasper Avenue North Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: 2005 Date of Council Approval of Project: June 26, 2013 Description of Jasper Avenue North Project: The Jasper Avenue North Project will consist of the asphalt paving of Jasper Avenue from its intersection with Highway 6 continuing to a point approximately 1,000 feet north at the top of the hill situated on Jasper Avenue and other work incidental thereto. Description of Properties to be Acquired in Connection with Jasper Avenue North Project: The City will acquire such easement territory and right-of-way as are necessary to successfully undertake the Jasper Avenue North Project. Description of Location and Use of TIF for the Jasper Avenue North Project: It is anticipated that the City will pay for the Jasper Avenue North Project with either borrowed funds or the proceeds of an internal advance of City funds on-hand. In either case, the City’s obligation will be repaid with incremental property tax revenues. It is anticipated that the City’s use of incremental property tax revenues for Jasper Avenue North Project will not exceed $85,000. 6) Name of Project: Kimberlite Street Extension Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: 2005 Date of Council Approval of Project: June 26, 2013 Description of Kimberlite Street Extension Project: The Kimberlite Street Extension Project will consist of the extension of Kimberlite Street from its dead end to the parking lot at City Park including PCC paving and curb and gutter. The Kimberlite Street Extension Project will also include the construction of an asphalt parking lot at the end of Kimberlite Street at City Park and the construction of PCC pavement sidewalk along the new extension of Kimberlite Street to City Park.