Resolutions-2015-048 (2)

RESOLUTION NO. 2015- 048 A RESOLUTION AUTHORIZING THE TIFFIN CITY COUNCIL TO APPROVE AN ECONOMIC DEVELOPMENT TIF USE POLICY FOR DETERMINING CRITERIA AND SCOPE OF TIF REBATE FOR ELIGIBLE PROJECTS WHEREAS, the City Council of the City of Tiffin(" City") recognizes the importance of Tax Increment Finance (" TIF") for incentivizing desirable development that is consistent with the City' s long-term goals as stated in its Comprehensive Plan and encourages long-term vitality to the City; and, WHEREAS, the City' s Planning Zoning Commission did meet and review a draft Economic Development. TIF Use Policy at its regular meeting of March 4, 2015,' and made recommendations which have subsequently been incorporated into the attached Policy with their recommendation of its adoption as amended. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF TIFFIN, IOWA, that the City Council does recommend the adoption of the revised " Economic Development TIF Use Policy", dated April 16, 2015, which is attached hereto and made a part of this resolution, and authorize the Mayor and City Administrator to negotiate potential TIF development agreements within the guidelines set forth therein for consideration by the City Council. 22nd On the day of April, 2015, at a regular meeting of the Tiffin City Council, Tiffin, Iowa, Council member Bartels introduced Resolution No. 2015- 048, and made a motion for approval. Motion seconded by Council member Havens. AYE: Peggy Upton, Jim Bartels, Al Havens, Joan Kahler NAY: NONE PASSED: YES ABSENT: Mike Ryan 22nd Passed by the City Council on the day of April, 2015. SIGNED: STEVEN L. BERNER, Mayor ATTEST: TIM D . LON , City A istrator/ Clerk Prepared by Tim D. Long, Interim Administrator, Tiffin, Iowa