TID 5 is set for new construction; district may run negative until increment materializes
TID 5, created in 2022 and amended in 2024, currently shows zero increment but has debt proceeds and expected development that would produce increment starting about 2028; staff said the district may run a cumulative deficit until revenues start.
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John Cameron said TID 5 — created in 2022 and amended in 2024 — anticipates approximately $43.5 million of incremental value over its lifespan once planned construction occurs. Because of a two-year lag between development and when tax-increment revenue is realized, Cameron said the district could start seeing revenue in 2028 if development begins in 2026; staff forecast a positive fund balance by about 2031 and possible payoff of remaining debt by 2032, subject to project timing.
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