Council to Discuss Tax Revenue Increase in Redevelopment Area

Earlier this month at the request of Temple Terrace Mayor Frank Chillura, the Hillsborough County Commission voted 6-0 to modify the city’s Tax Increment Financing (TIF) plan to help facilitate activity in the downtown redevelopment area.

On Tuesday, the Temple Terrace Redevelopment Agency and City Council will each consider the revision to the city’s agreement with the county regarding the TIF plan, according to the meeting agenda.

TIF is a tool for capturing the tax revenue generated by increases in assessed property values within a designated district—such as Temple Terrace’s redevelopment area—and using the money only within that designated district, according to a City of Temple Terrace press release.

Temple Terrace’s TIF began in 2004 with the establishment of a base value. Under the original 30-year agreement, the city would see 100 percent of the TIF revenue from the county during the first 10 years and 80 percent during years 11-30, with the county receiving the other 20 percent, the release states.

But Chillura spoke to commissioners Dec. 5, and at his request, and the recommendation of County Administrator Mike Merrill, commissioners agreed to amend the agreement, allowing the TIF to increase from 80 to 100 percent in years 11-30.

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Temple Terrace’s redevelopment district has not generated as much TIF revenue as anticipated since 2008 because of the sour economy, resulting in a 36.3 percent loss in taxable value within the redevelopment district, noted City Manager Kim Leinbach in the release.

This amendment, Chillura said in the release, demonstrates the positive partnership and strong friendship between the city and county, and will benefit Temple Terrace’s redevelopment efforts for years to come.

The Temple Terrace Redevelopment Agency (which is made up of City Council members) will meet at 5:45 p.m. in the Council Chambers at City Hall to review the measure. The City Council will then meet at 6 p.m. The City Council is also scheduled to discuss:

• a temporary moratorium on Internet Cafés;
• the Temple Terrace Golf & Country Club and the National Register of Historic Places;
• a resolution to buy a 2013 Crane Carrier LET-2/GS recycling vehicle in the amount of $220,504;
• a resolution to buy three 2013 Chevrolet Tahoe unmarked police vehicles in the amount of $25,378.80 each, two 2-13 Chevrolet Caprice unmarked police vehicles in the amount of $25,924 each, camera systems for the cars in the amount of $25,904, and $43,606.60 to be used for additional equipment as necessary;
• a resolution awarding a contract to replace the Family Recreation Complex swimming pool Kool-Deck surface to Stonewood Development in the amount of $194,219.39;
• a resolution to buy a 2013 Ford F-450 utility truck in the amount of $44,905;
• a resolution to award a contract to evaluate the production of well No. 5 prior to well modification to Cardno TBE in the about of $35,500;
• a resolution to approve the agreement between the city and TECO to extend a natural gas line from Gillette Avenue and Folwer Avenue to the Family Recreation Complex to heat the main pool at a cost of $41,000;
• a resolution to approve an interlocal agreement between the city and Hillsborough County to disburse and expend enhanced 9-1-1 emergency telephone service fee revenue; and
• a resolution regarding separating bonds for tax purposes.

The City Council meeting will be televised live on Verizon Channel 39 and Bright House Channel 950 and rebroadcast on Mondays and Thursdays at 7 p.m. and Wednesdays and Fridays at 2 p.m.