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Council approves TIF deal and maintenance agreement for Sixth Street development
Summary
The City approved a tax increment financing (TIF) development agreement and a maintenance agreement with 6 Street Development LLC, including reimbursement terms tied to SDSU Foundation improvements and ongoing maintenance responsibilities for certain on‑street features.
The Brookings City Council on May 20 approved a tax increment financing development agreement with 6 Street Development LLC and a separate maintenance agreement addressing long‑term responsibilities for project improvements.
The TIF agreement outlines the financing mechanism that will reimburse the developer and related parties for eligible public improvements over the life of the TIF district. Mike Struck, community development director, said TIF approval follows…
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