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62? The next regular scheduled meeting of the Mooresville Town Council will be on Tuesday, October 7,2003 at 6:30 P. M. at the 1Vlooresville Town Hall. Toby Dolea, President ATTEST: ~ ~ • ~~~ 9 ~ -~~~.~~ a6~~ Sandra R. Perry, Clerk-Treasurer October '7, 2003 The Mooresville Town Council met in regular session on Tuesday, October 7, 2DD3, at 6:30 P. M. at the Mooresville Town Hall. Council members present were: Mark Mathis, acting president in Toby Dolen's .absence, Troy Bryant, John L. Clark, and Tom'Warthen. Town Attorney Tim Currens was present. Jim Taylor from the Grace Missionary Church gave the invocation. A motion was made by Councilman Worthen, second by Councilman Clark to approve the minutes of September 16, 2003 meeting. Motion carried 4-D. First on the agenda was Jones Family Mortuary requesting sewer hook-on and annexation into the Town of Mooresville. The consensus of the council was to proceed with the paperwork for annexation and sewer hook-on. Next were the Declaratory Resolutions for tax abatements for TOA, USA and Overton and Sons. Councilman Mathis stated the Public Hearing will be October 21, 2003 at 6:30 P. M. and asked if there were any questions concerning these tax abatements. Councilman Bryant said he had some questions and they were not so much for these particular abatements, but about abatement procedures, the process, as far as the council was concerned. He said he had tried over the past several weeks to educate himself on abatements and the T1F District. He said he had went to the Redevelopment Commission meeting the previous night and had several questions answered. He said he understood that the original intent of the effort was to attract industry to lesson the burden on local government, small business, and homeowners and replace that with a considerable industrial tax base. He stated he had not been able to get all the information as far as incentives given out, the amount of money that is currently abated in our assessed valuation, and a schedule of year to year what we will receive. He said basically the Redevelopment Commission determines whether the abatement will "adversely affect the district" and as he looks at the matrix he doesn't see where it tells you what the affect will be and he said he guessed he didn't understand how they determine whether it will adversely affect the district. Town attorney, Tim Currens answered, the Redevelopment Commission determines the affect based on the financial report of debts (bond issues, etc.) and revenue in the TIF district (tax distributions). They know v~hether or not they have sufficient revenue to pay their debts. zf they know the revenues in that T1F district is enough to repay their debts, then they know the abatement will not adversely affect that district and that is what they are basing their decision on. Councilman Bryant said the district they draw the money from though, there's no consideration given whether or not that district has received all the benefits that it needed as being located within the T1F district or that Mooresville as a whole is in a position to where as far as their services ...they provide they are_in a. position, _the schools,~roads, .police and. ~xez _that_we can do__________ without these revenues over, a period of time, that never comes into the decision? Attorney Currens answered that is your decision as a council to make, that isn't the 1 r_