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Commission discusses Wheatland Targeted Economic Development District, TIF balance and advisory committee
Summary
County commissioners provided an overview of the Wheatland Targeted Economic Development District (TED), explained the tax-increment financing mechanism used to fund TED infrastructure, and read a proposed resolution to establish a statutorily required advisory committee.
County commissioners provided an overview of the Wheatland Targeted Economic Development District (TED), explained the tax-increment financing mechanism used to fund TED infrastructure, and read a proposed resolution to establish a statutorily required advisory committee.
A county official said the Wheatland TED was created by a board resolution on Nov. 18, 2019, and described the district as an economic-development tool “to build infrastructure in underdeveloped or undeveloped areas that are infrastructure deficient.” The official explained that tax-increment financing (TIF) redirects incremental taxable value generated by new development within the TED to pay for…
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