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Council hears proposal to extend and expand TIF No. 2, split increment for public safety and development
Summary
City staff proposed extending TIF No. 2 to 2045, expanding its boundary and splitting future city tax increment so half supports public safety and half funds corridor infrastructure and development.
City staff presented a proposal on Nov. 3 to extend and expand Tax Increment Financing (TIF) No. 2 — the I‑30/Harbor Point corridor district — and to divide the city’s tax increment so half funds corridor projects and half supports public safety operations.
What was proposed: The city would amend the creation ordinance to extend the TIF’s term from an original 2025 termination to 2045 and add adjacent properties to a new boundary layer (a "TIF 2A" with a 2025 base year for newly captured increment). Under the staff plan the city would continue to participate at 100% of the city’s increment and use the increment as follows: 50%…
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