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Council approves TIF Reinvestment Zone No.1 financing-plan amendment reallocating roughly $5.3 million
Summary
The council approved an amendment to the TIF Reinvestment Zone No.1 financing and project plan to reallocate about $5.3 million from released reserves and refunded bonds toward projects including the Outer Loop and portions of Windland Road and Power Drive.
Temple City Council voted 5–0 Thursday to adopt an amendment to the Tax Increment Financing (TIF) Reinvestment Zone No. 1 financing and project plans, reprioritizing available funds and reallocating proceeds from recent refunding activity.
Miss Bernard (staff member) summarized the amendment and said the Reinvestment Zone Board approved it July 21. She said roughly $5.3 million became available by reprioritizing projects and replacing…
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