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Committee discusses using TID funds for gap financing, suggests RFP or application process
Summary
Middleton planning staff and committee members discussed how Tax Increment District (TID) funds could be used for developer gap financing and recommended creating an RFP or grant/loan application modeled on Madison to define eligibility and selection criteria.
Committee members pressed planning staff for clarity on how Tax Increment District (TID) funds might be used to provide gap financing to developers for affordable housing projects and what procedural safeguards would be required.
A member asked whether the plan should include logistics for dispensing TID-derived gap financing, or focus primarily on…
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