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Contract planner explains urban renewal and TIF to Wheeler council; members consider advisory committee
Summary
Thomas Fiorelli, Wheeler's contract planner, told the City Council how urban renewal districts and tax-increment financing (TIF) can fund public infrastructure and spur private development while requiring safeguards against displacement. Councilors asked about costs, property impacts and next steps.
Thomas Fiorelli, the city—s contract planner, presented an overview of urban renewal districts and tax increment financing to the Wheeler City Council on July 16, describing how the tool can fund public infrastructure to encourage private redevelopment.
Fiorelli said urban renewal has roots in the Federal Housing Act of 1949 and is intended to help cities bring underutilized properties back onto the tax rolls by investing in public improvements such as sidewalks, water lines and streets. He explained Oregon—s approach: the council would freeze a —base— tax value for a defined area, capture the —increment— (tax…
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