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Summary:
The Downtown Orlando Community Redevelopment Area (“Downtown Redevelopment Area”) was established by resolution on February 11, 1980. On March 29, 1982, the Downtown Redevelopment Area was expanded and on July 12, 1982 City Council adopted an ordinance creating a trust fund for the deposit therein of tax increment revenues from the Downtown Redevelopment Area (“Trust Fund Ordinance”). In 1990 and 2007, the Downtown Redevelopment Area was again expanded and the trust fund ordinance amended to provide for the deposit of tax increment revenues attributed to the expanded areas of the Downtown Redevelopment Area into the trust fund. Additionally, upon adoption of amendments to the Community Redevelopment Plan for the Downtown Redevelopment Area in 2000, 2010 and 2014, the Trust Fund Ordinance was amended each time in order to amend references to the Plan in the Ordinance to include each amendment to the Plan. This amendment to the Trust Fund Ordinance amends references in the Trust Fund Ordinance to include the Plan Amendment of May 4, 2015.
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Fiscal & Efficiency Data:
None.
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Recommended Action:
Approval of the attached proposed amendment to the Trust Fund Ordinance and forward to City Council with recommendation to approve and adopt the amendment to the Trust Fund Ordinance. |
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Agenda Item attachment(s) on file in the City Clerks Office.
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Note:
All agenda items must
be in the City Clerk's office by Noon Friday, six(6) business days prior to the
regular Monday City Council meeting.
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Contact:
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Approved By:
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Department
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Date and Time
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| Budget Outside Routing Approval |
4/23/2015 4:00 PM |
| Real Estate and Finance Attorney |
4/24/2015 9:49 AM |
| City Clerk |
4/24/2015 10:39 AM |
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