Attorneys for the School Board and the City had crafted an amended agreement that would do the following:
*ensure that the BOE could review the agreement every 5 years to decide on continued participation;
*have increased representation on the TAD Advisory Committee;
*provide that no tax money from this budget year would be included in the TAD;
*provide that the TAD Increment would begin Jan. 1 2010;
*and, place a limit on residential development within the TAD.
Board members discussed the pros and cons of the TAD. The positives that were noted included:
*improvement of the mid-town corridor and improvement of the value of the area, resulting in future increased tax base;
*encouragement of future development outside of the TAD area, the â
The vote was 3-1 with David Syfan casting the only "no" vote.
http://accesswdun.com/article/2009/8/222382