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Council member outlines Public Facilities District master plan; council to consider TIF financing and a development agreement
Summary
Council Member Parcel said Lynnwood's Public Facilities District master plan could generate new taxable income and that council decisions this year may include Tax Increment Financing support and a development agreement if the district secures financing.
Council Member Parcel updated the council on the Public Facilities District (PFD) master plan, describing it as a regional investment that could generate new taxable income and noting that the council may face decisions on Tax Increment Financing (TIF) and a development agreement later in the year.
"A lot of estimates surrounding the new master plan…
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