Developer outlines Brenner Fields TID case; board directs staff to draft MOU and timeline
Developer representatives presented a potential Brenner Fields Tax Increment District (TID) covering multiple parcels; the board directed staff and legal counsel to review and return with a memorandum of understanding and timeline to continue TID work.
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Representatives for the prospective Brenner Fields development presented a detailed overview of how a Tax Increment District (TID) might be structured for three parcels (combined roughly 142 acres) that would include a developer parcel of about 34.95 acres. The developer and consultants explained statutory constraints (a cap of roughly 35% newly platted residential within a TID and a requirement that at least 50% of a district be developable) and laid out a sample pro forma and revenue assumptions.
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