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Committee approves TIF terminations and hears annual TIF report; public raises oversight concerns
Summary
Members recommended due-pass on multiple TIF dissolutions and received SLDC’s annual TIF status report showing many notes maturing in 2027–2028; public commenters pressed for more transparency and oversight, including questions about LRA ownership of Marquette Building units and past TIF performance.
The committee recommended due‑pass for board bill 1‑21 to dissolve the special allocation funds for six redevelopment areas and received the SLDC annual tax‑increment financing report (board bill 1‑22). SLDC’s Madeline Swanstrom reviewed TIF performance, noting 152 redevelopment plans, 124 redevelopment agreements and 57 retired TIFs; she summarized a list of projects reaching 5‑, 10‑, 15‑, 20‑ and 25‑year anniversaries with remaining unpaid principal amounts and maturity dates.
Tom Ray from the comptroller’s tax increment financing section…
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