City of Rock Hill - File #: 10-0199

• File #: 10-0199
• Version: 1
• Type: Resolution
• Status: New Business Item
• File created: 10/20/2010
• In control: City Council
• On agenda: 10/25/2010
• Final action: 10/25/2010
• Title: Consider a Resolution relating to the Declaration of Intent by the City of Rock Hill, South Carolina, to reimburse certain expenditures prior to the issuance by the City of its tax increment bonds or other obligations. Strategic Goal: Old Town Revitalization: Objective: Provide support to implement redevelopment plans in Old Town area.

Date	Ver.	Action By	Action	Result
10/25/2010	1	City Council

Title

Consider a Resolution relating to the Declaration of Intent by the City of Rock Hill, South Carolina, to reimburse certain expenditures prior to the issuance by the City of its tax increment bonds or other obligations.

Strategic Goal:  Old Town Revitalization:  Objective:  Provide support to implement redevelopment plans in Old Town area.

Body

This reimbursement resolution provides for the City to incur expenses, not to exceed $500,000, for the environmental assessment and abatement related to the Bleachery property demolition prior to the issuance of Tax Increment Financing.   The resolution identifies the General Fund as the source if expenses are incurred prior to the availability of bond proceeds.