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Planning panel backs TIF District No.5 to fund Cheyenne Boulevard; estimated cost $14.9M
Summary
The commission recommended creation of Tax Increment Financing (TIF) District No. 5 to pay for Cheyenne Boulevard and related infrastructure, describing the district as an infrastructure TIF (not returning increment to developers) and listing an estimated project cost of about $14.9 million.
The City of Box Elder Planning Commission on Oct. 20 voted to recommend City Council approve Tax Increment Finance District No. 5 to fund Cheyenne Boulevard and associated utility and roadway extensions.
"This is an infrastructure TIF," Renee Baker, the city’s finance officer, told the commission, distinguishing the proposal from developer‑reimbursement TIFs. Baker said TIF No. 5 would use increment generated within the designated…
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