§ 2–1217.35c. Creation of the Skyland TIF Area; Available Sales Tax Revenues base year determinations.

(a) There is created a TIF area designated as the Skyland TIF Area. The Skyland TIF Area is defined as the real property located in Square 5632, Lot 0001; Square 5632, Lot 0003; Square 5632, Lot 0004; Square 5632, Lot 0005; Square 5632, Lot 0802; Square 5633, Lot 0800; Square 5633, Lot 0801; Square 5641, Lot 0010; Square 5641, Lot 0011; Square 5641, Lot 0012; Square 5641, Lot 0013; Square 5641, Lot 0819; Square 5641N, Lot 0012; Square 5641N, Lot 0013; Square 5641N, Lot 0014; Square 5641N, Lot 0015; Square 5641N, Lot 0016; Square 5641N, Lot 0017; Square 5641N, Lot 0018; Square 5641N, Lot 0019; Square 5641N, Lot 0020; Square 5641N, Lot 0021; Square 5641N, Lot 0022; Square 5641N, Lot 0023; Square 5641N, Lot 0024; Square 5641N, Lot 0025; Square 5641N, Lot 0026; Square 5641N, Lot 0027; Square 5641N, Lot 0028; Square 5641N, Lot 0029; Square 5641N, Lot 0030; Square 5641N, Lot 0031; Square 5641N, Lot 0033; Parcel 0213/0052; Parcel 0213/0060; Parcel 0213/0061; Parcel 0214/0062; Parcel 0214/0088; Parcel 0214/0104; Parcel 0214/0182; Parcel 0214/0187; Parcel 0214/0189; Parcel 0214/0190; and Parcel 0214/0196 and for any other parcel located within the geographic area bounded by a line beginning for the same at a point at the intersection of the northerly line of Good Hope Road, S.E., with the northerly line of Alabama Avenue, S.E., and running then northwesterly along said line of Good Hope Road, S.E., extended, to intersect a point on the east line of Naylor Road, S.E.; then northwesterly along said line of Naylor Road, to a point at the northwesterly corner of Lot 801 in Square 5633; then northeasterly along the northerly line of said lot & square to a point at the westernmost corner of Parcel 213/52; then continuing northeasterly along the northerly line of said Parcel 213/52, to a point at the southwesterly corner of Parcel 213/60; then northeasterly along the arc of a curve, deflecting to the right, along the westerly line of said Parcel 213/60, to a point at the northernmost corner of said Parcel 213/60; then southeasterly along the easterly lines of said Parcel 213/60 and 213/52 to a point at the northwesterly corner of Lot 33 in Square North of Square 5641; then easterly along the north property lines of said Lot 33 and Lots 16 through 31, both inclusive, in Square North of Square 5641 to a point at the northeast corner of said Lot 31 in said square; then south along the east line of said Lot 31 in said square to a point at the southeast corner thereof; then Westerly along the south lines of said Lots 31, 30, 29, 28, 27, 26, 25, 24, 23 and 22 in said square to a point at the southwest corner of said lot 22, to intersect a line drawn northwesterly from the northeast corner of Lot 12 in Square North of Square 5641; then southeasterly along said line drawn and the east line of said Lot 12 in said square, to a point at the southeast corner thereof, to a point that intersects a line drawn northwesterly from the northeast corner of Lot in Square 5641; then southeasterly along said line drawn and the east line of said Lot 13 in said square to a point at the southeast corner thereof; then southwesterly along the south property lines of Lots 13 and 12 in Square 5641 to a point that intersects a line drawn northwesterly from the northeast corner of Lot 819 in Square 5641; then Southeasterly along said line drawn and the east line of said Lot 819 in said square, to a point at the southeast corner of said Lot 819 in said square, on the north line of Alabama Avenue, S.E.; and then southwesterly along the arc of a circle, deflecting to the right, along said line of Alabama Avenue, to the point of beginning.

(b) As provided under § 2-1217.35b, the Available Tax Increment from the Skyland TIF Area shall be deposited in the Skyland TIF Fund and may be used for the purposes set forth in § 2-1217.35b.

(c)(1) The base year for determination of Available Sales Tax Revenues from locations within the Skyland TIF Area shall be tax year 2016.

(2) The base year for determining Available Real Property Tax Revenues shall be tax year 2016 and the initial assessed value to be used in making the determination of Available Real Property Tax Revenues shall be the assessed value of each lot of taxable real property in the Skyland TIF Area for tax year 2016.