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Thompson's Station board creates economic development and infrastructure acceleration board
Summary
The board approved resolution 2026-013 to form an economic development and infrastructure acceleration board aimed at unlocking financing tools (including tax-increment financing) to accelerate infrastructure projects; staff said the new board will be seeded and governed by bylaws, and staff will confirm residency requirements.
The Town of Thompson's Station adopted a resolution to create an economic development and infrastructure acceleration board intended to help the town accelerate infrastructure projects and pursue additional funding mechanisms, including tax-increment financing agreements.
Staff told the board the resolution is the first step toward forming the board as a corporation and that subsequent steps will include seeding membership and developing bylaws. "This resolution will allow for the creation of a new board that will have broad authorities under the TCA for economic development purposes," a staff presenter said, noting the board will focus on accelerating infrastructure improvements.
Board members asked procedural questions about membership. One member asked whether elected officials or town employees could serve; staff replied, "Correct" (they cannot). Staff also said they would double-check and, if desired by the board, include a residency requirement in the bylaws so at least one board member is a Thompson's Station resident.
Staff emphasized the board is one of several levers for financing projects; tax-increment financing is a likely tool but not the only option. The board voted to approve the resolution by a 4-0 vote.
Action taken: Resolution 2026-013 was approved to authorize formation of the economic development and infrastructure acceleration board. Staff will return with bylaws and recommendations for member selection.
