This meeting can be accessed via Zoom. Virtual attendance for the public is encouraged however, the Bristol Municipal Complex is open for in-person participation.
JOIN ZOOM MEETING
https://us02web.zoom.us/j/2011667863?pwd=ZkJGK2ZMcTZGNHBCaW9adUgvdUtYZz09
Dial in to 312-626-6799 / Meeting ID: 201 166 7863 /Passcode: 1czEDo
Call in any time after 6:30 / meeting will begin at 7:00PM
REPORTS
We have an agreement in place to reimbursement 85% of the TIF revenue generated from the new development on the GGT parcels in the Stoutco Drive Property to GGT Real Estate Inc. twice each year until all reimburseable costs and expenses have been paid in full or February 28, 2034, whichever comes first.
The recent revenue generated was $122,456.38, with 85% or that being $104,087.92 infrastructure reimbursement. These funds were not budgeted, as the revenue stream was unknown last year.
The final comments and results will be submitted and a final report will then be available to us. The cost of the audit will be approximately $22,000-$25,000.00. The general fund was $10K and the utilities were $12K, plus the additions of the auditors final notes and comments, technology and processing fees to be added in.
NEXT MEETINGS:
August 3 ,2023 Council meeting
* Public hearing annexation phase 2 apartment complex
* Voluntary annexation request farmland south of Valmont
* Rezoning request for apartment complex
August 15 Work Session
August 17 Council meeting