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might change based upon unexpected opportunities and challenges that <br />may suddenly appear. Federal and state programs will ebb and flow and <br />priorities will change in Washington, D.C. and Indianapolis. Therefore, <br />any financial plans prepared for the area should be reviewed from a <br />strategic viewpoint and not a tactical, detailed perspective. A budget for <br />the TIF district will be prepared as part of the final designation process for <br />the development area. A financial plan for the STIF district will also be <br />prepared as part of the STIF designation and will be included as an exhibit <br />to this document.. The purpose of this section of the plan is to outline a <br />financial plan that is a guide with a set of milestones. The plan must be <br />reviewed at least annually and revisions made as appropriate. <br />Several aspects of this proposed funding /activity /expenditure schedule <br />must be highlighted. <br />Tax increment financing amounts will depend, in the early years, on <br />only a few private sector taxpayers. These taxpayers, developers <br />of new projects within the development area, will carry the burden <br />in the early years. This places our budget in a vulnerable situation <br />because revenues will be reduced if the taxes are not paid or <br />projects are not developed as anticipated <br />The proposed funding sources reflect, for the most part, a status <br />quo situation. New funding sources must be developed. An <br />entrepreneurial approach by public agencies and neighborhood <br />organizations is required. The creation of a sales tax increment <br />financing (STIF) district around the Scottsdale Mall site within the <br />Erskine Hills Sub -area is one example of a method of creating <br />funding opportunities to pay for the needed public improvements. <br />Other funding mechanisms like the county option income tax <br />(COIT) of economic development income tax (EDIT) might be used <br />as an additional funding mechanism or as a bond supplement to <br />allow for the necessary "financial backstop" as a funding source in <br />the later years. The City has committed that any new option tax will <br />be committed to neighborhoods and infrastructure. <br />VII. DESIGN AND DEVELOPMENT CONTROL <br />A. Design Control Objectives <br />In order to achieve high quality design, construction, rehabilitation and site <br />development, a design /development review processwill be established. It is <br />32 <br />