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Raleigh council adopts tax-increment reimbursement policy to broaden infrastructure funding tool
Summary
Council adopted a revised tax-increment reimbursement policy intended to make the tool available to a wider range of projects, set a $200,000 minimum agreement value, and advised county participation be sought for agreements valued above $1,000,000; staff said the city—s tax increment share is roughly 40% and the policy leaves reimbursement schedules negotiable.
Planning staff presented revisions to a tax-increment reimbursement policy originally adopted in 2021, saying the changes are intended to broaden eligibility beyond traditional, large-scale economic development projects and to allow the city to partner with private developers to fund public infrastructure and amenities.
Ken Bowers (Planning & Development) told council the updated approach keeps the tool—s legal foundation and ties reimbursements to actual incremental property-tax revenue,…
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