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HomeMy WebLinkAbout2000-12-20 01-76 ORDERitem NO. 0I-76 Data: DECENa4H 20.2000 Item/Subject: Dissolving B.I.A. State Tax Increment Financing District No. 1 Responsible Department: Community and Economic Development Commentary: By Council Order 94-314 the City Council designated the B.I.A. State Tax Increment Financing District No. 1 which reimburses a portion of the State withholding fax for new employees. The Maine Department of Economic and Community Development approved the designation. The designation allowed businesses within the designated area to take advantage of the State Tax Increment Financing statute. No business did. The State program expires in 2004 and has been replaced by the E -TIF program. This Order will dissolve the B.I.A. State Tax Increment Financing District No. 1. The Council may be asked at a later data to designate an E -TIF District. Department Head Managees Comments: City Manager Associated Information: Finance Director City Solicitor _ Passage _ First Reading page _ of _ Referral Ul-]6 AssigmAb CVNGmr December 20, 200 CITY OF BANGOR (TRLE.) Order, Dissolving &LA. State Tax Increment Financing District No.1 By the Qty Council oftW One ofBNW. ORDERED, THAT WHEREAS, by passage of Council Order 94-314 on June 28, 1994 the City designated Me B.I.A. Municipal DevelopmerR District No. 1 Tax Increment Financing District and Stale Tax Increment Financing District pursuant M Chapter 207 of Title 30-A of the Maine State Statutes, as amended; and WHEREAS, the Maine Department of Eco cwnd and Community Development renewed and accepted! the District and Development Program for the B.I.A. Municipal Development Disiiict No. 1 effective July 11, 1994 and renewed and accepted the District and Development Program for the B.I.A. State Tax Increment Financing District No. 1 effective August 31,1994; and WHEREAS, the Oty rrow wishes W meront, undetignate and dissolve the B.I.A. State Tax Increment Financing District No. 1; NOW, THEREFORE, rr IS HEREBY ORDERED BY THE CRY COUNCIL OF THE QTY OF BANGOR THAT ft B.I.A. State Tate Increment Hnancirg District M. 1, tlalgnabed by Council Order 94314 passed June 28, 1994 Is hereby rescinded, undesignated and dissolved; and BE IT FURTHER ORDERED THAT, the OW Manager, on behalf of the Qty Council of the City of Bangor, provide notice W the State of Maine Commissi of Economic and Community Development that the &LA Slide Tax Increment Financing DisMr1 No. 1 designated! by the Qty Council of the Qty of Bangor by passage of Opundl Order 94314 on June 28, 1994 is hereby rescinded, undesignated ant desdved, and request approval of the action of the City of Bangor City Council by the State of Maine Commissioner of Economic and Community Development. I6 CITY co0dcn December 20, 2000 O1—]fi motian for Passage Made # and Seconded panned CITY ©.gH6 I MLme)n Dissolving H.I.A. State Tax uci7 Feslgnedb Cwncllw