Resolutions-2013-129

Description of Location and Use of TIF for the Island Removal at Roberts Ferry Road Project: It is anticipated that the City will pay for the Island Removal at Roberts Ferry Road 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 Island Removal at Roberts Ferry Road Project will not exceed $70,000. 3) Name of Project: Potter Park Improvements Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: 1993 Date of Council Approval of Project: June 26, 2013 Description of Potter Park Improvements Project: The Potter Park Improvements Project will consist of the construction of an asphalt parking lot and PCC pavement sidewalks at Potter Park and other work incidental thereto. The Potter Park Improvements Project will enhance the quality of life in the City, thereby resulting in residential and commercial growth in the Area: Description of Properties to be Acquired in Connection with Potter Park Improvements Project: The City will acquire such easement territory and right-of-way as are necessary to successfully undertake the Potter Park Improvements Project. Description of Location and Use of TIF for the Potter Park Improvements Project: It is anticipated that the City will pay for the Potter Park Improvements 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 Potter Park Improvements Project will not exceed $35,000. 4) Name of Project: Roberts Ferry Road Overlay Project Name of Urban Renewal Area: Tiffin Urban Renewal Area Year of Establishment of Urban Renewal Area: 2010 Date of Council Approval of Project: June 26, 2013 Description of Roberts Ferry Road Overlay Project: The Roberts Ferry Road Overlay Project will consist of the resurfacing of Roberts Ferry Road with asphalt overlay from its intersection with Highway 6 continuing north to its intersection with West Goldfinch Drive and other work incidental thereto. Description of Properties to be Acquired in Connection with Roberts Ferry Road Overlay Project: The City will acquire such easement territory and right-of-way as are necessary to successfully undertake the Roberts Ferry Road Overlay Project.