Redevelopment plan up for final vote
Truckee Town Council will conduct the second reading of the Truckee Redevelopment Plan ordinance tonight, after which council will consider approval of the ordinance and adoption of the plan.
Using redevelopment, the town will be able to apply a portion of the property taxes collected within the redevelopment project area to the rehabilitation or reconstruction of commercial and industrial buildings, housing and public facilities, the development of new public and private facilities, and the planning for such facilities.
Although redevelopment plans are funded by tax dollars, no new taxes are assessed for their work. Instead, the plans are funded by a “tax increment,” which represents a percentage of the property taxes already paid.
Once a redevelopment plan is established, the taxes remain the same, and the redevelopment agency will get a percentage of taxes from property improvements.
The entire redevelopment project area lies within the Town of Truckee General Plan, and the majority of the parcels lie within the Downtown Study Area as established by the Downtown Specific Plan.
The area includes more than 800 acres of land.
Outside the Downtown Study Area, the proposed project area includes 170 acres of PC-1, 120 acres of commercial land, 89 acres of public land, a portion of residential land in PC-1, and 52 acres of industrial land.
Council will also consider completion of the name for the undercrossing road.
In its last regular meeting, council approved naming the road in memory of the McIver family, but did not decide on the second half of the road’s name.
Town staff proposed a series of names for consideration, including McIver Shortcut, McIver Cutoff and McIver Crossing.
In other business, council will consider:
Purchase of 2.72 acres of tax-defaulted land next to the Truckee River, at an estimated cost of $5,700.
Authorization of Town Manager Steve Wright to enter into a cooperative funding agreement with Caltrans for the purpose of constructing a traffic signal and drainage improvements at the Highway 267/Palisades Drive Intersection.
Amendment of Truckee’s wood stove regulations.
Entering into an agreement with local special districts for maintenance of Joerger Road and future acceptance of right of way from Caltrans.
A report by Town Manager Steve Wright on the status of the Highway 267 Bypass.
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