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Lebanon Redevelopment Commission extends TIF pledge to back up to $350 million in sewer bonds
Summary
The commission voted to extend a prior pledge of tax increment financing (TIF) revenues from the Project LEAP Phase 1 allocation area to support up to $350,000,000 in sewage works revenue bonds authorized by the Lebanon City Council on April 28, 2025; the resolution passed by voice vote and staff said closing is likely in mid-June.
At a meeting of the Lebanon Redevelopment Commission (date not specified in the transcript), members voted to extend the commission’s prior pledge of tax increment financing revenues from the Project LEAP Phase 1 allocation area to support repayment of sewage works revenue bonds authorized by the Lebanon City Council on April 28, 2025, in an amount not to exceed $350,000,000.
The action amends the commission’s earlier resolution that created the Project LEAP Phase 1 economic development area and allocation area and expands prior references to the LEAP Water bonds to include the Lebanon…
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