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Council adds urban‑renewal feasibility discussion to upcoming workshop
Summary
Council authorized staff to add a discussion of the feasibility of forming an urban renewal agency to a scheduled goals workshop to explore revenue and redevelopment options tied to potential tax‑increment financing.
Council authorized staff to add a long workshop item on the feasibility of creating an urban renewal agency to a scheduled council goals workshop. Staff said the city has completed preliminary work and an economic opportunity analysis with Johnson Economics; the next steps would review one or two potential urban‑renewal areas and examine tax‑increment financing options and timing necessary to capture incremental tax revenues within the calendar year.
Staff told council the agency would need to be adopted this summer and an area plan adopted before year‑end to lock in tax‑increment financing for the next tax year. Councilors asked about pacing and workload; staff said the timetable leaves limited wiggle room and that the item will require a relatively long workshop to cover fiscal, legal and project‑level impacts.
Council voted to add the urban‑renewal feasibility discussion to the upcoming workshop agenda.
