Case File 26-0484

Context: This ordinance and a second TIRZ No. 7 agreement, each pledging 50% of annual increment revenue, both carried 9-0 on the 2026-05-05 consent agenda.

Recommended: Request the TIRZ No. 7 finance plan and confirm projected annual increment revenue is large enough to fund this 50% pledge plus the second TIRZ No. 7 development agreement council approved the same meeting — if both draw from the same pool, there's no buffer against a revenue shortfall.

Context: Council adopted the ordinance unanimously 9-0 on second reading 2026-05-05, one of two TIRZ No. 7 development agreements the council cleared that meeting.

Recommended: Pull the executed development agreement behind this ordinance — it commits 50% of annual tax increment revenue from TIRZ No. 7 to public infrastructure costs, a financing structure you can propose if you have a site inside the same zone.

Context: This ordinance passed 9-0 on both its 2026-04-28 first reading and 2026-05-05 second reading, alongside a second TIRZ No. 7 agreement carrying an identical 50% increment pledge on the same May 5 agenda.

Recommended: Request both TIRZ No. 7 development agreements approved this meeting — each pledges 50% of the zone's annual tax increment revenue, and the record doesn't say whether that's 50% of the same pool (leaving zero margin) or two distinct revenue streams tied to different tax years.