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Council approves TIF and redevelopment agreements recommended by committee
Summary
The Lebanon City Council approved a tax-increment financing (TIF) agreement providing $10,000 annually for five years to improve an identified building and separately authorized a redevelopment agreement; both recommendations came from committee and were approved by roll call.
The Lebanon City Council voted to approve a TIF agreement that will allocate $10,000 a year for five years to support improvements on the building discussed in committee, and separately authorized a related redevelopment agreement. Council members moved to approve both items on the committee’s recommendation; because the recommendations originated from committee the chair said they did not require seconds.
The finance representative explained the short terms: "you have 6 1 8, $10,000 of TIF money every year for 5 years to improve that building," and the council proceeded to a roll-call vote. Members answered in the affirmative during the roll call; the clerk recorded yes responses for the attending members listed at the meeting.
Council members said the recommendations came from committee and recommended formal authorization. No motions to amend the agreement terms were offered during the council meeting. The ordinances committee reported no ordinance items for the night, and council scheduled routine committee meetings going forward.
Because both approvals were committee recommendations, the chair explained a second was not required; the council then completed roll-call voting and approved the items. The meeting minutes should be consulted for the official contract language and final signatures.
