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Finance staff briefs committee on five tax-increment districts; TID values, obligations vary
Summary
Finance staff reported the status of five tax-increment districts (TIDs), noting completed project plans, outstanding municipal-revenue-obligation (MRO) commitments, and that assessor corrections will affect 2025 increment values; staff will file required TID reports by July 1.
Danielle (finance staff) updated the Finance Committee on the city's five active tax-increment districts and said the annual TID reports are due July 1.
Staff said TID 5 (Ballpark Commons) is nearly complete with only a few developable parcels remaining; it currently shows about $90 million in value and approximately $24.5 million in outstanding debt. Danielle said two municipal revenue obligations tied to that district have not yet been triggered.
TID 6 (Bear development area) shows roughly $41 million in incremental value and about $8.6 million in outstanding debt; the project plan anticipated about $64 million in total project value,…
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