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Council’s economic development fund steady; Farmington TIF reimbursements appear in FY26 budget
Summary
Rob told council the town’s economic development program remains funded at previously approved levels; tax increment financing (TIF) revenue from Farmington will flow through the FY26 budget as pass‑through reimbursements for developer agreements.
Town Manager Rob summarized current economic development funding and noted the Farmington TIF receipts and reimbursements will appear in this budget cycle as pass‑through revenue/expense.
Rob said council previously approved an economic development strategic plan and a $500,000 annual program funding envelope; the FY26 draft does not change that baseline. He said the town has budgeted one approved economic development staff position (hiring…
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