Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Smith Commons TIF, CID revenues running above original projections, city staff says at public hearing
Summary
At a public hearing, city staff reported that assessed valuation in the Smith Commons redevelopment area and related Community Improvement District receipts are outpacing original TIF projections, though one planned tenant has not opened.
City staff reported at a public hearing that assessed valuation and tax receipts tied to the Smith Commons redevelopment area are tracking above the figures the tax-increment financing plan projected.
At the June public hearing, a staff presenter said the Smithfield Marketplace TIF (adopted Aug. 1, 2017) covers roughly 66 acres near Cliff Drive and Highway 69 and was created to support the area now called Smith Commons. "This area had definitely increased in a little commercial presence. The assessed valuation is tracking higher than what was expected when the TIF was made," the staff presenter said.
The presenter told the Board the Clay County assessed…
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
