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RDA authorizes South Pointe tax-increment to repay portion of Golden West Credit Union incentive
Summary
At a Redevelopment Agency meeting, board members unanimously approved using tax-increment funds from the South Pointe Community Reinvestment Area to partially repay incentives previously paid to Golden West Credit Union after staff identified a county mapping error that had overstated last year’s increment.
At a meeting of the Redevelopment Agency (RDA), board members voted unanimously to authorize the use of tax-increment funds from the South Pointe Community Reinvestment Area (CRA) to partially repay incentives previously paid to Golden West Credit Union.
Agency staff told the board that a county-produced project-area map had incorrectly included parcels that were not part of the South Pointe CRA. County staff later corrected the map, reducing the CRA’s valuation and the increment that will flow to the agency going forward. Staff said the correction reduced last year’s…
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