Post on 16-Jan-2016
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Board of County CommissionWorksession
Expanded Alternative
to Meet BCC Directives
Dan Schlandt, Deputy County Administrator
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Expanded alternatives to meet BCC Directives
• BCC Directives:
1) Jobs, Jobs, Jobs NOW !!!
2) Redevelopment of the Urban Core
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Expanded Alternative to meet BCC Directives
• Creation of an Economic Development TIF• Creation of an Encouragement Zone Land
Use Designation• Expand the proposed area to include 15th
Street East Corridor• Integration with other actions to meet BCC
directives
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Home Rule Economic Development
TIFs vs CRAs• CRA – Real Property, Issue revenue
bonds
• Home Rule Economic Development TIF – Greater discretion in collecting and using TIF revenues, ability to set boundaries.
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Summary Proposal• Create one all encompassing TIF for all the
non-residential areas.– Provide a single focus on job creation/
economic development for the entire area
– Increase chance that TIF can generate significant enough increment revenues to be able to make a substantial impact if opportunities occur.
– Allow economic development team to respond quickly to economic development opportunities
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Implications to Existing CRAs
• 14th Street W. CRA
• South County CRA