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Johnson City staff outlines PACER financing option for private development
Summary
Staff attorney Megan Bell described the PACER program, a financing framework enacted in 2021, and the council approved staff moving forward to set up a city portal and in-house program administration; the city would act as conduit and not borrow funds.
Megan Bell, a staff attorney in Johnson City’s legal department, told the council the legislature adopted the PACER act in 2021 and that the statute creates a mechanism for special tax assessments to finance permanent improvements for eligible private projects. "Well, I'm here to talk about the PACER program. It is, the legislature adopted the PACER act in 2021," Bell said.
Bell said the city plans to create a web portal where developers can see if projects are eligible and to offer an in-house program administrator to help set up financing. "The city anticipates that we…
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