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Council advances Quarry Creek TIF district ordinance to third reading
Summary
An ordinance to create the Quarry Creek tax-increment financing incentive district, declare improvements a public purpose and require service payments in lieu of taxes was moved to a third reading by a 4-0 vote.
The Amherst City Council on May 12 voted 4-0 to send an ordinance creating the Quarry Creek tax-increment financing (TIF) incentive district to a third reading.
The ordinance, read on the floor, would create the Quarry Creek TIF district, declare improvements within the district a public purpose and exempt those parcels from real property taxation while requiring property owners to make service payments in lieu of taxes. The measure also establishes a municipal public improvement tax-increment equivalent fund for deposit of those service payments and lists public infrastructure improvements that would serve parcels inside the district.
Councilmember Niminski moved to send Item 7c to the third reading; Councilmember Heberling seconded. A roll-call vote recorded Councilmembers Dembinski, Mayhorn, Janek and Hamberley voting "yes." The motion carried 4 to 0. No substantive debate or public comment on the TIF district is recorded in the transcript beyond the ordinance reading and the roll-call vote.
The ordinance will return for a third reading, where council members may consider the TIF map, the list of infrastructure improvements, the term of payments in lieu of taxes and any fiscal impact analyses. The transcript does not include dollar amounts, the exact parcels by parcel number, or a schedule of anticipated service-payment receipts.
