Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Boone County RDC weighs two-series TIF bond for 6547 Commons, plans allocation-area expansion
Summary
The Boone County Redevelopment Commission discussed options to finance the 6547 Commons development using a tax-increment financing (TIF) bond, including a single upfront issuance versus two series, and agreed to expand the TIF allocation area before issuing bonds.
The Boone County Redevelopment Commission on Friday reviewed financing options for the 6547 Commons project and agreed to pursue steps to expand the TIF allocation area before issuing bonds.
Commission advisers said the board can either issue a single bond now or split the financing into two series to match near-term needs and later development. “A two and a half million dollar bond upfront… usable proceeds, I think, are about 1.8,” one adviser said, while cautioning that parts of the project along State Road 47 likely will not develop until water and sewer are in place.
The distinction matters because building or commercial uses along 47 will be constrained until…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
