Title
Consider authorizing the execution and delivery of a first amendment to the intergovernmental agreement between the City of Rock Hill and Rock Hill School District No. 3 of York County; and other matters relating thereto.
Strategic Goals: 1) Promote public investment and reinvestment in the Downtown area; 2) Provide support for public and private investment in the Downtown area; 3) Examine infrastructure needs in the downtown and development plans for meeting those needs; 4) Establish an identity for Downtown as a destination.
Body
This resolution authorizes the execution and delivery of a first amendment to the Intergovernmental Agreement between the City of Rock Hill and Rock Hill School District #3. The actual agreement is included as an Exhibit to this resolution. The agreement approves a new Downtown Redevelopment Project Area, extends the duration of the existing Downtown TIF area until December 31, 2039, expands the Downtown Redevelopment Project Area Projects, approves for the future issuance of TIF bonds, agrees to Rock Hill School District's participation in the TIF, excludes owner occupied residential taxes from the formula, and provides for School Resource Officers for Rock Hill School District #3.
Rock Hill School District's Board is also meeting tonight and is considering approval of a like resolution to enter into this economic development partnership. Once the resolutions and the agreement are approved, the City Council will hold a public hearing and consider approval of an ordinance approving the Redevelopment Plan. The Public Hearing and first reading of the ordinance are tentatively planned for February 13, 2012.