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Weston board authorizes partial TIF payout for Schofield Avenue project amid questions on completion
Summary
Trustees approved a 75% TIF reimbursement ($337,500) for the Schofield Avenue project at 2302 Schofield Ave, citing substantial progress and occupancy of at least one tenant suite; board requested architect’s certificate of substantial completion and assessor verification before final payout.
The Village of Weston approved a partial release of tax-increment financing (TIF) reimbursement for the development at 2302 Schofield Avenue, voting to disburse 75% of the $450,000 agreed incentive ($337,500) after staff reported that more than 75% of the work is complete.
Staff said the project has a temporary or conditional certificate of occupancy for one major tenant (the firehouse space) but lacks the formal architect’s certificate of substantial completion for the entire shell.…
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