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Staff proposes extending TIF 2 for economic development and partial general‑fund return; board review set for Aug. 20
Summary
City staff proposed extending Tax Increment Finance (TIF) Zone No. 2 for 20 years and programming a project plan that would return 50% of incremental TIF revenue to the general fund for public‑safety needs along I‑30 while retaining the rest for economic development.
City staff presented a proposal Aug. 16 to extend Tax Increment Finance Zone No. 2, which currently is scheduled to expire Dec. 31, 2025. The TIF was established in 2005 around the I‑30 corridor with a base valuation that has since grown substantially; historically the TIF paid debt service for Bass Pro and related projects.
What staff proposed Economic development staff recommended extending the TIF an additional 20 years and adopting a new project and financing plan that would split incremental revenue 50/50: 50% to be…
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