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Woodland Park DDA authorizes negotiations on Tava House TIF application, directs legal to draft multiple deal options
Summary
The Woodland Park Downtown Development Authority voted to authorize staff to enter into negotiations with Tava House Properties LLC on a proposed tax increment financing package and instructed legal counsel to prepare three to four possible deal structures for the board to consider.
The Woodland Park Downtown Development Authority voted to authorize staff to enter into negotiations with Tava House Properties LLC on a proposed tax increment financing package and instructed legal counsel to prepare three to four possible deal structures for the board to consider.
Board members discussed the scope of the applicant’s reimbursement request, which includes public improvements along Highway 24 and internal site infrastructure. Josh (legal counsel) told the board that today’s action would only authorize negotiations and that “there is not a TIF agreement that has been finalized after negotiations, so you wouldn’t be approving a TIF agreement today.”
Representatives of the applicant said…
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