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Council pauses vote on Jefferson South TIF; requests additional time after public hearing
Summary
Council members agreed on June 3 to let lie the second reading of an ordinance establishing a Jefferson South tax increment financing incentive district—seeking an additional meeting before final action to complete the 30-day public-hearing period required for the property owner.
Council member O'Donnell presented the second reading on June 3 for an ordinance creating the Jefferson South tax increment financing (TIF) incentive district, declaring improvements to parcels there a public purpose and proposing a 75% exemption of improvements from real property taxation for 10 years.
O'Donnell said the owner plans to construct 90 new homes at 0 Rosewood Avenue and that the city anticipates increased demand for parks and infrastructure tied to the development.
After O'Donnell’s presentation, Council member Corbin moved to “let lie” the ordinance until the next meeting so the city could meet the full 30-day period following the public hearing for the property owner. The motion carried; council voiced “aye” and the item was continued to the next meeting.
No final tax-exemption ordinance was adopted at the June 3 meeting; O'Donnell said staff would return with the item after the required notice period so council can take final action.
