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Committee approves $7.8M TIF for 156‑lot Annan Housing development, with 84 units designated affordable
Summary
The Legal and Finance Committee voted to create Tax Increment Financing District 92 to support infrastructure for a 156‑lot residential development, including extension of Reservoir Road; the TIF request totals roughly $7.8 million with city‑administered fees and a projected 15‑year payoff period.
The Legal and Finance Committee voted Sept. 11 to create Tax Increment Financing District 92 to help fund infrastructure for the Annan Housing Development, a planned 156‑lot residential subdivision north of the current terminus of Reservoir Road.
Community Development Director Vicki Fisher and TIF planner Mike Dugan told the committee the project requests roughly $7.8 million in eligible TIF project costs to cover capital improvements, professional fees and contingencies tied to Reservoir Road extension and on‑site infrastructure. Dugan said the total project…
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