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Collegedale commission agrees to study new infrastructure development district, stops short of a vote
Summary
Commissioners discussed using a new infrastructure development district (IDD) tool that would capture future tax revenue to pay for roads, utilities and stormwater in planned developments. After questions about homeowner impacts, county participation and collection mechanisms, the commission authorized staff to gather more information and return for a formal decision.
Mayor Lloyd opened the discussion on a proposed infrastructure development district that city staff said could help fund roads, water, sewer and stormwater for planned developments by capturing future tax revenue to pay back bonds issued up front.
City manager (staff) told the commission the tool functions similarly to tax-increment financing: the city or an authorized board would issue bonds for infrastructure, then capture future property and sales taxes generated by the district to repay those bonds. Staff said the approach could be applied to a retail portion of the Chastain property and, in some configurations, to residential…
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