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Story County approves TIF support for LMI housing; school district warns of $33,000 annual impact
Summary
The Story County Board of Supervisors approved amendments to its urban renewal plan and a development agreement to provide up to $1.95 million in TIF support to the Story County Housing Trust for low‑to‑moderate income housing; Nevada Community Schools warned the board the district could lose about $33,000 a year under the plan.
The Story County Board of Supervisors on Nov. 18 approved an amendment to the county’s urban renewal plan and a development agreement to allow tax increment financing payments to the Story County Housing Trust to support low‑to‑moderate income (LMI) housing.
Planning staff told the board the county’s total commitment of incremental property tax revenues for the LMI program would not exceed $1,950,000 and that the aggregate payments in any single fiscal year would not exceed $975,000. Staff emphasized that all payments would be subject to annual appropriation by the board…
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