TIF receipts fall for Rensselaer; treasurer urges cutbacks in TIF spending
Staff reported June TIF receipts that are below last year's levels and relayed a treasurer's recommendation to reduce spending from TIF funds; commissioners discussed committed projects including a trail and façade grants and noted potential recapture of non-benefiting properties.
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Staff gave the commission a June financial update showing lower-than-expected tax-increment financing (TIF) receipts and urged restraint in spending. "The Drexel TIF, it was $334,880.24," a staff member said while supplying monthly figures and apologizing that the numbers were not in the packet.
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