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Developers and staff describe proposed Silo Park PID; council raises financing and overlap questions
Summary
A petition to form a Public Infrastructure District (PID) for the Silo Park block was presented; staff said the petition is complete and next steps include a public hearing and potential negotiation of governance and financing. Developers said the PID would fund interior site infrastructure while HTRZ tax increment could be requested separately; council sought clarity on fiscal risk and overlap with CRA/HTRZ funds.
City staff and the project applicant briefed council members on a petition to form a Public Infrastructure District (PID) for the Silo Park block near 470 W. 600 S. Staff said they have determined the petition is complete and that the immediate next step is a public hearing to determine whether the requested public services are needed and whether the PID, rather than the city, should provide them.
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