Hideout Town Council prepares to create Community Reinvestment Agency for local development

The Hideout Town Council meeting held on June 12, 2025, focused on the establishment of a Community Reinvestment Agency (CRA) to promote economic development and infrastructure improvements within the town. The discussion highlighted the benefits of creating a CRA, which would enable the town to utilize tax increment financing (TIF) to reinvest property tax revenues generated from new developments back into specific areas.

Rob, a consultant, explained that CRAs are legal entities created by municipalities to foster job creation, support public infrastructure projects, and encourage affordable housing through public-private partnerships. The council members expressed enthusiasm for the potential of this tool, emphasizing its ability to attract commercial businesses and expedite development in underutilized areas.

The meeting also covered the procedural steps required to create a CRA, which typically takes between 120 to 180 days. This process includes public hearings and negotiations with various taxing entities to agree on tax increment sharing. The council discussed the importance of engaging with these entities early in the process to gauge their willingness to participate in the CRA.

Council members raised questions about the types of properties that could be included in a CRA and the potential restrictions on certain developments. Rob clarified that while there are no specific prohibitions on property types, municipal uses would require permission from other taxing entities.

Overall, the council viewed the establishment of a CRA as a strategic move to enhance the town's financial tools and stimulate growth. The next steps involve formalizing the creation of the CRA and beginning the process of identifying project areas for development, with the Ross Creek area being a potential focus. The council is optimistic about the opportunities this initiative could bring to Hideout.