Tax Increment District 6
Created in 2003, TID 6 was adopted to address a blighted area on the City's west side commercial district characterized by underutilized, vacant, industrial and commercial buildings. The City, in coordination with the Redevelopment Authority, undertook several projects, including the realignment of 3rd Avenue; relocating of sanitary sewer and storm sewer in 3rd Avenue; installed a traffic light at the intersection of 3rd Avenue and 8th Street; vacated and removed portions of 9th Street and 4th Avenue to allow for new development; extended 10 1/2 Street to the east and constructed sidewalks along 10 1/2 Street to the west.
The plan also called for the use funds to be put towards the promotion of development and redevelopment of properties. This includes providing financial incentives. The City may enter into agreements with property owners, lessees, or developers of land located within the District for the purpose of developing or redeveloping vacant, blighted or underutilized properties. Financial incentives will not be provided until the City executes a developer agreement with the recipient of the cash grant. Disbursement and approval of financial incentives is subject to the City's Tax Increment Finance Policy. Projects must follow the policy in order to be considered for funds.
Because of the success of TID 6 it was amended in 2006 to provide its positive increment to TID 4 to cover that TID's project costs for a five year period. It was further amended in 2010 to extend the allocation of positive increments to TID 4 for an additional five years.
Tax Increment District 6 adopted May 20, 2003
Tax Increment District 6 Amendment #1 adopted July 18, 2006
Tax Increment District 6 Amendment #2 adopted July 6, 2010