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Council reviews reduction of captured TIF values, seeks better use of rising TIF balances
Summary
Councilors reviewed resolutions reducing captured value percentages for several tax increment financing (TIF) districts and discussed expanding use of TIF funds for capital projects and staff allocations as district values have grown.
Councilors on Monday reviewed proposed reductions to captured value percentages for multiple tax increment financing (TIF) districts and discussed strategies to increase productive use of rising TIF balances.
Councilor Berman asked whether the city was maximizing allowable use of TIF funds, noting that a portion of the city administrator and deputy city administrator salaries are charged to TIF districts. Economic Development…
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