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Board appoints two members to review Arrowhead Center TIF amendment
Summary
The board heard city explanations of a proposed amendment to the Arrowhead Center tax increment financing plan that would consolidate redevelopment areas and voted to appoint two representatives to the city's review commission.
The Northridge School District Board of Education discussed a proposed amendment to the Arrowhead Center tax increment financing (TIF) plan at its July 14 meeting and appointed two board members to the city's review commission. Staff said the city attorney explained the amendment would consolidate seven redevelopment areas plus the existing Arrowhead Center project area into a single area and would not change the overall amount of assistance under the plan. Staff told the board the consolidation is intended to simplify administration and provide greater flexibility to attract development. The city attorney explained that any residential development under the consolidated area would be limited to age-55-or-older housing to preserve tax-exempt status for the TIF; units below age 55 would be subject to property tax. The city announced the commission would meet Aug. 14 at 5:30 p.m. The board voted to appoint Jacob Nuschwey and Brian Butts as the district’s two representatives to the commission. Board members said they wanted representation at the city meeting to monitor impacts on the district and to ask clarifying legal and financial questions.
