Council approves TIF amendment to include adjacent parcel, updates spending purposes
Council approved a resolution to amend and restate a TIF plan to pick up a parcel adjacent to the Kim Metals site and to add statutorily allowed spending purposes (education programs and police/fire), with the redevelopment commission and city to act later in the approval chain.
The full story
County staff presented an amendment and restatement of a tax-increment financing (TIF) plan to include a two-acre parcel adjacent to the Kim Metals property and to modify the plan’s permitted uses to reflect recent changes in state law. The presenter explained that unless the amendment is approved before Jan. 1, 2027, the county could lose the ability to capture the assessed-value increase from the new building on that parcel.
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