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St. John Redevelopment Commission approves a package of TIF agreements and revenue pledges
Summary
The St. John Redevelopment Commission on March 25 approved a slate of resolutions establishing economic development areas and pledging tax-increment financing (TIF) revenues to support bonds and agreements for Castle Rock, Park West and other projects; votes ranged from 3–1 to unanimous on individual items.
The St. John Redevelopment Commission approved multiple resolutions on March 25 establishing economic development areas and pledging tax-increment financing revenue to support economic development bonds and agreements for several projects, including Castle Rock and Park West.
The approvals included a declaratory resolution establishing the Castle Rock Economic Development Area and a separate pledge of Castle Rock TIF revenues to finance economic development bonds. Commissioners also approved designation of the Park West Economic Development Area, multiple economic development agreements with developers (including Hamm's Lake Development, LBL Development LLC and SJ 9301 LLC), and revenue-pledging resolutions for the Boyer…
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