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Selectmen review TIF (Revenue Development District) finances as early closure is considered
Summary
The board discussed dissolving the Swansea Revenue Development (TIF) District and reviewed preliminary 2025 balances. Staff reported a projected 2025 fund balance of $23,933.98 and described prepayments (~$257,243.71) and expected increment revenue (~$280,000), which could clear prior deficits.
The Board of Selectmen discussed whether to close the Swansea Revenue Development District (TIF) early for 2026 but said it needs original foundation documents and final payoff numbers to prepare a ballot warrant. Town finance staff reported preliminary figures showing a projected 2025 fund balance…
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