Norwalk officials continue public review of draft EIFD plan; no vote taken

The Norwalk Public Financing Authority on Oct. 7 continued public consideration of a draft infrastructure financing plan for a proposed Enhanced Infrastructure Financing District, leaving the item open for a final hearing on Nov. 18.

The presentation, by consultant Joe Dieguez of Cosmont Companies, described the EIFD as “a funding and financing tool for infrastructure … to support private sector investment, all of this without adding any new taxes,” and reiterated that the proposed financing allocates portions of future property tax revenue within a defined boundary rather than raising new taxes. Joe Dieguez, consultant with Cosmont Companies, told the authority that the district boundary would total roughly 200 acres and that the city and county were each being asked to commit to allocating 50% of their respective property tax shares that arise…