|
 Johnson said that to do so would be “superfluous and slightly
redundant” and would complicate the process.
The discussion of what to do about a TIF application for façade
improvements at 515 Broadway Street has morphed over the last
several weeks into the subject of how to address façade funding
using general funds instead of TIF funds.
Part of the issue may be according to Johnson the terminology. In
conversations with Johnson last week he noted that it would be
better if people not get caught up with where the money is coming
from. He noted that regardless of how a project is funded, it is
still going to be a TIF project if it is taking place within the TIF
District and the city is asked to support it financially through a
grant.
This week Johnson told aldermen that the current TIF application can
be easily altered to accommodate the changes the council would like
to make without creating a new program.
Currently inside the TIF Guidelines there is a definition of work
that qualifies for TIF funding in regard to façade improvements and
there are stipulations as to how much money an applicant may be
awarded for the application.
Johnson said he would propose making changes to that guideline and
stopping there.
Currently, the guideline reads: (http://www.
lincolnil.gov/images/stories/pdfs/lincoln%20tif%20guidelines.pdf
– page 4)
This category applies
to buildings on the square within the Central Downtown TIF
Redevelopment District, and the City Council will give relative
priority to façade restoration plans that involve more than one
business in a block, with a full block of buildings in a plan given
the greatest priority.
The plan for any façade restoration will be subject to Council
approval, the property owners are encouraged to maintain the
original historic character of the subject buildings in their
restoration plans. Developers may receive:
A grant for up to (50%) of the eligible project costs, per square
foot of frontage, not to exceed $50,000. On page 10 of
the agreement it also states:
The City of Lincoln
reserves rights as follows:
To amend, modify, or withdraw these policies as it determines
necessary and appropriate.
To require additional statements, sworn affidavits as to the “but
for” provisions of these policies, or other information as may be
deemed necessary, from any applicant/developer/
To waive any nonconformity with these policies by action of the City
Council
To waive any timetable established by Resolution or Motion.
The City may exercise the foregoing rights at any time without
notice and without liability to any applicant, developer and/or
project or any other party for expenses incurred on the preparation
of the application for economic development assistance. The
preparation of any such application and any costs related thereto
shall be the sole responsibility of the applicant/developer.
[to top of second column] |
Johnson said that the TIF guidelines offered the council the
opportunity to make changes at will. Because of this, he believed
the best plan of action would be to re-write the provisions for
façade grants according to what the council has expressed in
previous meetings.
He noted that the new language would include parameters regarding the cash paid
out. There could be a provision for example that said the city would pay out no
less than $1,000 and no more than $10,000 on any one application. The document
could maintain that the money was to be matched by the owner or developer so
that the city was not financing 100% of a project, even though it might carry a
total cost of less than $10,000.
Johnson said his new draft also included greater detail on what would be
eligible for reimbursement as part of the grant.
Todd Mourning said that in the guidelines, it states that the dollars are to be
requested before the work begins on a site. He wondered how that would affect
the current application. Could that request be granted? Johnson said that the
guidelines also state that the city can waive nonconformity with policies, so
the grant for the Broadway site could still be eligible, even though work has
already started.
Parrott asked if it would be at the discretion of the Council to determine the
amount awarded. Johnson said it was always at the discretion of the council, but
with the rules there are parameters, (no less than $1,000 and no more than
$10,000) and the Council would work within those parameters. He said then if a
project were eligible at 50 percent for $12,000, but the cap was set at $10,000,
then the most the applicant could get would be the $10,000.
Scott Cooper asked about the depletion of funds. He wanted to understand what
happens when the city has no money to invest either through TIF or the general
funds. Johnson said there is language in the document that says the program will
be suspended when funding is exhausted.
At the end of the discussion, the aldermen appeared to be satisfied with
Johnson’s recommendation. The item was added to the voting agenda for June 1st.
[Nila Smith] |
