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Middletown advisory committee urges council to fund TIF to underground Atlantic Beach District utilities
Summary
Middletown Economic Development Advisory Committee presented a vision for the Atlantic Beach District and urged the Town Council to fund a tax-increment financing (TIF) commitment to begin undergrounding utilities, arguing it will boost property values, resilience and private investment.
Valerie Galb, chair of the Middletown Economic Development Advisory Committee, urged the Town Council on a presentation to back a tax-increment financing commitment to begin undergrounding utilities and other infrastructure work in the Atlantic Beach District. Galb said funding the TIF is “not a giveaway,” but a reinvestment strategy she said would increase assessed values and spur private investment.
The presentation laid out figures the committee said reflect modest local impacts and larger district gains: 67 properties in the district represent about $66 million in assessed value, roughly 1 percent of Middletown’s 5,000-plus properties. With a projected 20% lift in assessed value from undergrounding and other improvements, the committee…
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