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City reports TIF balances, store‑lot sales and ongoing downtown hotel discussions
Summary
City staff presented a consolidated financial update showing TIF and other account balances, projected revenues from site sales, and ongoing, non‑final discussions about a potential downtown hotel and other redevelopment projects.
City staff presented the commission with a consolidated financial update on March 20, reporting Tax Increment Financing (TIF) balances, planned investments and projected revenue tied to ongoing downtown redevelopment work.
Staff reported individual TIF balances and described planned investments: White River Lofts ($921,000 earmarked), Till Pond ($241,000), parks ($59,000) and other focused funds, totaling about $1.2 million in planned…
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