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Council hears Orchard Drive TIF presentation; consultant says Council not obligated to spend TIF funds
Summary
The Council heard a presentation on the proposed Algonquin Road/Orchard Drive TIF district April 14; Alderperson O’Brien asked about zoning or parking limitations and consultant Geoff Dickenson said allocation of TIF funds is at the Council's discretion.
A second public hearing opened at 7:11 p.m. April 14 on the proposed Algonquin Road/Orchard Drive Redevelopment Project Area. Geoff Dickenson of SB Friedman Development Advisors presented the redevelopment plan and tax-increment financing proposal.
During the presentation Alderperson O’Brien asked whether the Council should be aware of any limitations related to parking, zoning, or new state laws affecting multi-unit housing. Geoff Dickenson replied that the Council is under no obligation to allocate TIF funds if it chooses not to and that the decision to use TIF money rests entirely with the City Council. No members of the public spoke and the hearing closed at 7:19 p.m.
