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Show WISEST ktatt i mi lai i OT7 Page 3 . ' .rv. - afcht was pmt4 wi&. three possible, alternative , tor the wtablloeta rf redevelopment .tliiiriet--'- . fcwndarien. i,4vv' The three ,he'w formulated by city treasurer nice Decker and jcity planner Dave JFtoec and each has . and Stmt as its K"- "njMnrj , "The re fcey ihew.ch . uewed vaiaettoa jate , tograwintUftfiijgefe" PecMr told thtjpsp &&. redevetopntent is, - created, t prov eclats , within the 4jtHxM-xe financed thrfhtM tacreraeat funding,, As the Messed valuaftn Mrttt-" distriet :MtTmttib.:-i increase is Ua rexeoues os to a re(kvaAoBeflt; , afeiicy t teiMbe . Under - tK . if" ; Iteriiatm, ; g Beher Avenye. &h23mPM Je. This increase of the tore prflfajnl IJIX. millioB . Y I;. ,,,.,; .. V in n I The council decided to It l I I Y'--'A ---:r HI I If I II Im I I T I IK v mm wLLtnp hwii m m m m mmiJmtmmm i w w w . . j . m 1 - I " ail - I CreDe & Fondue CQMNER S TORE fjd W) C J fl ' i " j - :V .ll delioateagap reetaurant m . " v r ' Redevelopment Districts Presented WtttH t Decker ; awlttys figure expected to j&by tWUBM within three yeajri; i netting the dCe)eniDent agency :fcUKrese4Jaes. " . tV secend alternative extends the nerth boundary t tjth Street. The assessed valuation ef the area from 3oi Street to 12th Street was . said to be 162,300 with an jpenauK of MQG.9Q0 expected in thjree jowrs. the Depot araegt planned far north of be Awwi would ftcmmt for men than three-iuartej9 three-iuartej9 of this hike, The Ojicipatod increase in lax tifcvenuei was pegged at v the Jargest and potentially nasi lucrative district was enawajawsed by alternative three This proposal would establish a redevelopment 4iMi running from 2nd giro iii&frni M8 at the ortk.ead of town. The 1101,760 annually for the redevelopment district. Along with the Depot, the big boost in this area will come from the Holiday Inn currently : . under construction. Referring to the third alternative, Decker said, "We're talking about a million dollars over ten years to pay debts or to put into improvements." Previous discussion on the redevelopment project indicates that most of the tax increments would be earmarked '' tot improvements to Main Street. Mayor Leon Uriarte suggested that it might be prudent to wait and observe what effects new projects already planned, such as the Depot, might have on the Main Street commercial district. , ... Apparently fearing that creation of the district would bring about a new Main i SiffH i f ion ; ..mL ceiis9 iMJttt 1 y ojfgftje. property taxes, Uriarte said, "We could get caught between a rock and s hard .v-v- place." After, digesting the "ball park figures" presented by Decker, the council seemed most attrirted by the. third alternative and its revenue raising potential. Howew, . before the district' can be established, the other local taxing entities Summit County, Park City School District, Park City Fire Protection District, and the Snyderville Basin Sewer Improvement District - Housing Assistance Funds Paris City wjM have ia,6l6 in housing assistance funds to distmbute, ., according to Summit County Planner Max Greenhalgh. Greenhalgh told .the City councU Thursday night that the county housing authority has receivod one applieatkm to date for the city's home must agree to relinquish their claim to the tax increases for the duration of the redevelopment project. At the end of the project, each of these entities would begin collecting taxes on the. full valuation of the district which would be expected to increase significantly. Decker and city manager Wayne Matthews have begun contacting these Made Available improvement funds and noted that the council must approve all city applications. The planner said the sole application has been made by attorney Alan Frandsen to repair a house he owns and operates as a monthly government bodies and expressed confidence that they would be agreeable to the project. County At Thurday's City Council meeting. Summit county Planner Max Greenhalgh told city officials, "The mood (of the county commissioners) is favorable but with some questions and concerns." , rental unit. The council questioned the wisdom of applying the funds to rental units and said it would prefer to give the money to people living in their own homes. If such homeowners do not apply, rental unit owners receiving the funds should be required to provide a lease and rent ceiling guarantees to their tenants, recommended city planner Dave Preece. The council decided to publicize the availability of the funds in hopes of attracting applications from resident homeowners. 3, 000 feet of Thrills and Park City Resort Noon MOUNTAIN FOOD SERVICE OUTSIDE i A BARBEQUE j on Patio next DAILY 11 25 SANnWIHHFS SUNDAY ON Sunday 10 am. to 2 p.m. SEATING IN THE GARDEN ROOM AND ON THE PATIO $450 Excitement for all ages till 10:00 7 days a week to Resort Center am. to 3 p.m. BEER ft C.F PRFAM BRUNCH ! v |