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Board approves two TIF development financing agreements for Pearl/Helena and Southern Villa projects
Summary
Trustees approved development-assistance agreements tied to TIF project plans: up to $8.6 million for a Pearl/Helena catalytic mixed‑use project and a capped TIF financing structure for a Riverline/Southern Villa project with a 25-year horizon.
Trustees on Oct. 23 approved two development-finance assistance agreements tied to Tax Increment Financing (TIF) project plans: an up-to-$8.6 million developer-assistance cap for a Pearl/Helena mixed-use project, and a separate capped TIF financing authorization for the Riverline (Southern Villa) project.
Karen, a staff member who presented both items, said the Pearl/Helena agreement would reimburse developer costs on a pay‑as‑you‑go basis up to a cap of $8.6 million drawn from…
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