Reg City Council 6-14-11 minutes.pdf - The City of Titusville, Florida

Matt Barringer believed in the truth and the intent of the proposal. In passing the
proposal, he felt the City would hit on seven principals of government function that
would be helpful to Titusville. He commented on support of government objectives and
other challenges that faced communities and encouraged Council to approve the
NBCEDZ.
Mayor Tulley asked for clarification to the difference between this proposed Economic
Development Zone and the City’s CRA.
Planning and Growth Management Director Courtney Barker advised this proposal would
be adopted under a specific statute that required different standards than CRA’s.
William Bender advised he recently became unemployed, was looking for employment,
and expressed it was important to do whatever possible to promote jobs. He was
supportive of the NBCEDZ and would assist with this effort anyway he could.
Mayor Tulley closed the public hearing.
Mayor Tulley asked Planning and Growth Management Director Barker to highlight the
rationale behind using new construction for the first five-years and more traditional tax
increment financing (TIF) in succeeding years.
Planning and Growth Management Director Barker highlighted as followed:
• Traditional Tax Increment revenue streams would not provide sufficient (or any)
funding to the NBCEDZ due to falling property values.
• By only including new construction, some funding would be provided by the new
construction tax increment dollars for the first year any new projects were assessed.
• The General Fund would receive any increase in value for the project in the
subsequent years.
• The City would receive some revenue from new construction after the initial year was
provided to the NBCEDZ
Member Long advised she felt Council needed a full conceptual plan prior to approval.
She alone had three pages of concerns including role and make-up of the special district
board members, needing a written agreement with the County clarifying exactly what
role the County and City would play and TIF funding.
Planning and Growth Management Director Barker asked Member Long to submit all her
concerns to staff and they would be glad to address them all.
Member Burson would support having a special City Council meeting in order for staff to
address any of Council’s concerns before making a decision on whether to approve
NBCEDZ. She expressed concern with the appointment of the special district board
members.
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