City of Jonesboro - File #: RES-04:577

• File #: RES-04:577
• Version: 1
• Name: Moratorium on redevelopment districts
• Type: Resolution
• Status: Passed
• File created: 8/2/2004
• In control: City Council
• Final action: 8/2/2004
• Title: RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS, ESTABLISHING A MORATORIUM FOR APPLICATION, OR CONSIDERATION OF, OR APPROVAL OF REDEVELOPMENT DISTRICTS: PURSUANT TO ACA 14-168-301 ET SEQ.
• Indexes: Improvement/Redevelopment District, Other
• Related files: MIN-04:138

Date	Ver.	Action By	Action	Result
8/2/2004	1	City Council	Passed	Pass

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RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS, ESTABLISHING A MORATORIUM FOR APPLICATION, OR CONSIDERATION OF, OR APPROVAL OF REDEVELOPMENT DISTRICTS:

PURSUANT TO ACA 14-168-301 ET SEQ.

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WHEREAS, the State of Arkansas currently provides for creation of redevelopment districts commonly referred to as "TIF"

WHEREAS, the City Council for the City of Jonesboro has determined a need to develop criteria for the creation and approval of said districts and the accompanying plans.

WHEREAS, the City Council for the City of Jonesboro has determined that a need exists to provide adequate time for review, consideration and adoption of said criteria.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:

1.      A moratorium is hereby declared on the application for, consideration of or approval of redevelopment districts pursuant to ACA 14-168-301, commonly referred to as "TIFS" for a period not to exceed 60 days beginning on the date this resolution is passed.

2.      During this moratorium period, criteria for the approval of said districts will be prepared by city staff, reviewed and adopted by the City Council.

3.      This resolution shall take effect immediately.

PASSED AND ADOPTED THIS 2^ND DAY OF AUGUST, 2004.