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Paris council adopts downtown tax increment reinvestment zone
Summary
The Paris City Council on Nov. 11 approved an ordinance creating Tax Increment Reinvestment Zone No. 1 to support downtown redevelopment, establishing a 30‑year term at 50% of the city tax rate and directing the creation of a TIF board to oversee projects.
The Paris City Council on Nov. 11 voted to create Tax Increment Reinvestment Zone No. 1, a 30‑year TIF designed to support projects in downtown and four adjacent developable areas.
City staff presented a preliminary project and financing plan that proposes diverting 50% of the city tax increment into the TIF fund; the plan and map were included in the council packet. "We're proposing to create a tax increment reinvestment zone that would support projects in the downtown area," the presenter said during the hearing.
The ordinance creates the zone and authorizes the preliminary financing plan; council discussion focused on how funds may be used and governance. Mayor (meeting chair) said he wants the fund dedicated to downtown improvements and voiced opposition to borrowing against future TIF revenues: "I would be opposed to that. I think I'd like to see pay as you go on this," he said. Staff noted that, while the stated intention is downtown investment, projects located anywhere within the zone are legally eligible and the council retains final approval over any TIF board recommendations.
Staff advised the council to appoint a TIF board to satisfy state reporting requirements and to review and return a final project and financing plan to the council. The preliminary plan specifies a five‑member board (the plan allows 5–15 members), and staff said an annual report to the state will be required. Councilmembers discussed advertising for applications and appointing members at an upcoming meeting.
A councilmember moved to adopt the ordinance; the motion was seconded and approved by voice vote. The motion and approval were recorded on the meeting transcript but no roll‑call vote totals were provided.
Next steps: staff and the TIF board, once appointed, are expected to review the preliminary plan and return recommendations for the council's final approval.
