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Boone County panel adopts confirmatory resolution to expand TIF area, clearing path for bond sale
Summary
The Boone County Economic Development Commission adopted a confirmatory resolution for an amended declaratory resolution that expands a tax-increment financing (TIF) area; members outlined the remaining steps toward a bond sale and approved related routine business.
Members of the Boone County Economic Development Commission voted unanimously to adopt a confirmatory resolution related to an amended declaratory resolution that expands a tax-increment financing (TIF) area for a private development project. The commission also approved meeting minutes and routine claims.
The amending declaratory resolution expands the existing TIF area to include additional acreage acquired for the project and reflects a land swap that shifts vehicular access from State Road 275 to 350, moving heavier traffic away from homes along 275. A staff member explained the sequence of approvals required under state law and the remaining timetable toward a bond sale.
The staff member said the amended declaratory resolution “merely expanded the existing TIF area to include the extra acreage that the merits have acquired as part of the project,” and described a land trade with adjoining…
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