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Supervisors discuss $5 million TIF-backed loan and timing for road projects
Summary
County staff and supervisors debated timing and accounting for a proposed $5 million TIF-backed loan to fund secondary roads, pressing staff to include the borrowing in the FY27 budget and asking the auditor to confirm accounts and timing for certification and expenditures.
Board members and staff spent an extended portion of the meeting discussing the county’s road budget and a proposed $5 million loan backed by TIF revenue. The conversation centered on whether the county should begin the borrowing process immediately or wait until closer to planned expenditures, and how to show the loan and related projects in the FY27 budget.
Staff said the county expects about $1.5 million in TIF revenue next year and that certifying the debt must be complete by Dec. 1. Supervisors discussed a previously stated target of $4 million for secondary-road projects within a larger $5 million program and asked how quickly the funds could be available for spending. County staff agreed to contact the auditor (Elizabeth) to confirm account setup and to ensure the loan proceeds are placed in capital-project line items (principal, debt service, interest) so they can be tracked separately.
Board members noted the trade-offs of issuing debt earlier (longer interest exposure) versus having funds on hand to shift other funding sources to different projects. Staff said some projects could be advanced later in the fiscal year if the loan and accounting are completed; the board agreed to include the borrowing in the FY27 budget process and to follow up with the auditor and county finance staff.
No formal vote on issuing the debt occurred; supervisors agreed to proceed with planning and to return with completed budget language and accounting entries.
