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Finance Committee signals support, requests workforce-housing follow-up for City of Elkhorn TID proposal
Summary
City Administrator Adam Swan briefed the committee on a proposed pay-as-you-go tax incremental financing district (TID No. 5). Committee members pressed for more workforce/attainable housing and accepted staff recommendation to send a concurrence letter while asking the city to return information if housing projects are added.
The Warwick County Finance Committee on Feb. 20 discussed the City of Elkhorn’s proposed Tax Incremental Financing District No. 5 and told county staff to send the city a letter indicating the county’s intent to concur with the TID plan as presented, while urging further progress on workforce housing.
City Administrator Adam Swan attended to answer questions. He described the proposal as a pay-as-you-go TIF intended to minimize risk to other taxing jurisdictions; the developer is proposed to receive 70% of the annual increment and 30% would remain in the district. Swan said the district boundaries were drawn to…
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