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Board allocates $60,000 in ARPA funds to advance downtown hotel TIF filing and phased development work
Summary
The board approved a $60,000 allocation from remaining ARPA funds to pay consultants and attorneys for the next phase of a downtown hotel TIF bond filing and authorized a contract; members said the work is reimbursable by future increment or the bond.
Planning Director Ed Bove updated the board on Tax Increment Financing (TIF) work and asked for a $60,000 allocation from funds formerly labeled ARPA to support attorneys, project management and phased filing work tied to a proposed downtown hotel and related infrastructure.
Bove said the city authorized earlier TIF expenditures in 2021 and 2023 and that preliminary comments on the TIF district look favorable; a final TIF…
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