The Aberdeen City Council is proposing a TIF project with a capital reduction from £40,000 in 2011-12 to £16,950 by 2014-15. The majority of projects will be completed by 2012-13, with funding available for Roads, Small Capital Grants to 3rd Parishes, ICT and Corporate Property and Suitability. None of the elements within the City Centre re-development projects within this reference is planned to be funded from the agreed capital Plan. The proposal satisfies the mandatory project characteristics detailed below. Why is this the chosen TIF project for your Local Authority? How does it fit with existing T.A plans? Provide basis for satisfaction of the but-for-test Identify the likely TIF Assets (i.e. the public sector enabling infrastructure), likely cost & why you consider these will enable private sector investment. Provide a high level income implication of the likely cost area and basis for selection of this area. Tailor the level of internal Local Authority support received for this TIF proposal. Work undertaken to date and the internal resource available to take forward the project. It should be noted that further pilot projects must be of a primarily non-retained nature. It should also be noted that of the three remaining pilot projects, one project should be below £20m and one should have a renewable energy element.
