HomeMy WebLinkAboutREQUEST FOR INFOR. 12-15-80DATE:
December 15, 1980
Inter-Corn
TO;
FROM:
SUBJECT:
Da~ Blan~ensh~p. City Ac]m~nis~ra%or
Ron Nault, Finance Director
Request for Information from Council
Mayor Pro TemEdgar has requested the following information:
1. What is the total reserved for a Community Building and what was the
souroe of the reserve?
$ 153,710
417,688
Insurance Payment
Sale of Property
~$571,378 Total Reserved for Community Building
How is the average tax increment for the RDA calculated? Can this average
be adjusted for inflation?
A)
B)
Finance Director
The $600,000 average tax increment is calculated over the life of the
plan. $18 milli°n total increment divided by the 30 year life of the
plan.
The current RDA plan does not include the application of an inflation
factor on the average annual tax increment. The County will only
provide us with the amount addressed in our plan. This maybe a
consideration to be included if we must modify our existing plan.