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Council accepts Tax Incentive Review Council findings on CRAs and TIFs
Summary
Council adopted Resolution 25-62 accepting the Tax Incentive Review Council's annual findings on Community Reinvestment Areas, TIFs and enterprise zones; staff reported most agreements were recommended for continuation with a mix of compliance findings.
Delaware City Council on Aug. 25 adopted Resolution 25-62 to accept the Tax Incentive Review Council's (TURC) annual recommendations on active Community Reinvestment Area (CRA), Tax Increment Financing (TIF) and enterprise-zone agreements.
Economic development coordinator Logan Birney presented TURC results: 13 CRA agreements were reviewed (7 found fully compliant and recommended for continuation; 6 found noncompliant but recommended for continuation), 12 TIF agreements were found fully compliant and recommended for continuation, and 31 active residential CRA agreements were recommended for compliance and continuation. Birney said the TURC had reformatted the report for clarity following prior feedback.
Council voted to accept the TURC recommendations by roll call. The action formalizes the annual compliance review and keeps active incentive agreements in place subject to any corrective steps identified by TURC.
Ending: The adopted resolution implements the annual TURC review; staff will continue to track compliance and present any required follow-up to council.
