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Council presses solicitor and economic development for local TIF/SDA policy; item tabled for 30 days
Summary
City economic development staff and the solicitor told the Committee on Finance they are drafting local procedures to replace state oversight of TIF and STA programs; councilors pressed for a finished policy and tabled the matter for 30 days.
The Committee on Finance pressed city counsel and Economic Development staff to complete a locally administered policy and standard operating procedure (SOP) for tax-increment financing (TIF) and special tax assessments (STAs) following changes at the state level that removed centralized state approval and reporting.
Councilors heard from Ramon Silva of the Economic Development Council and Attorney Winters (solicitor's office). Ramon said the state has stopped approving local TIFs and SDAs and that the city must…
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