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City outlines TIF District No. 5 to fund Cheyenne Boulevard improvements
Summary
City Administrator Doug Curry described TIF District No. 5 to capture incremental tax revenue from development in the Alpha Omega subdivision to fund construction of Cheyenne Boulevard and potentially Westgate Road; staff said an additional noticed public hearing will be scheduled before council consideration.
City Administrator Doug Curry presented a proposal to establish Tax Increment Financing (TIF) District No. 5 to capture incremental property‑tax revenue from development in the Alpha Omega subdivision and apply those revenues to public improvements along the Cheyenne Boulevard alignment, including roadway construction and utility extensions.
Curry told the council the district would help ensure new development contributes to the cost of the infrastructure that supports it. If additional funds remain after completing Cheyenne Boulevard, staff said they would be applied toward construction of Westgate Road. He noted the planning commission held a hearing Oct. 28 with no public comment and said an additional published public hearing will be held in November to address a procedural issue before final council consideration.
No public testimony was received at tonight’s hearing; staff said any comments received will be part of the record when council later deliberates on implementation of TIF District No. 5.
