Lapel RDC adopts annual TIF incremental-assessed-value resolution for 2027
The Lapel Redevelopment Commission approved a required annual resolution confirming expected 2027 TIF revenues ($181,754) and projected expenditures ($100,000), yielding a 182% ratio — under the state's 200% threshold — allowing capture of the full incremental assessed value.
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The Lapel Redevelopment Commission adopted a required annual resolution confirming its calculation for capturing incremental assessed value under the town's TIF districts. Chair explained the state-required formula and presented the Commission's 2027 estimates: expected TIF revenue $181,754 and projected expenditures $100,000 (approximately $35,000 for professional services and $65,000 for capital outlays). "That gives us a percentage of a 182%, which gives us the right to collect the full value that we are attempting to collect," the Chair said.
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