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Valley Center council authorizes up to $25,000 contract with Baker Tilly to model TIF bonds and explore funding options
Summary
The Valley Center City Council approved a short-term contract with consulting firm Baker Tilly to develop models and refinancing options for upcoming TIF bond payments and related financing, and staff said fleet refinancing will cover the initial cost with no 2026 budget impact.
Valley Center’s City Council on Monday approved a contract not to exceed $25,000 with consulting firm Baker Tilly to build financial models for the city’s Tax Increment Financing (TIF) district and structure several upcoming bond financings.
Clint Miller, speaking for city staff, told the council the city faces multiple TIF-related payments coming due and that prior revenue models are no longer reliable after Army Corps permitting delays. He gave a breakdown of the near-term obligations, saying the city faces roughly $17.6 million in outstanding…
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