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RDC confirms Summit District residential TIF plan; consultant projects Shasta Meadows revenues starting 2029
Summary
The commission opened a public hearing and approved a confirmatory resolution for the Summit District Economic Development Area; a municipal finance consultant projected Shasta Meadows TIF revenues at roughly $200,000 at first collection (2029) rising toward $700,000 at full buildout in 2032 and explained the 25‑year allocation clock begins at bond closing.
The Bloomington Redevelopment Commission opened a public hearing and approved Resolution 26‑31, a confirmatory resolution that updates and confirms the declaratory resolution designating the Summit District Economic Development Area and establishing a residential housing program for the Summit District.
Legal staff summarized earlier actions: the commission adopted a declaratory resolution in March, the plan commission approved…
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