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Bradley County committee tightens proposed TIF rules: requires economic and public‑service analyses and sets allocation default
Summary
The Legal & Legislative Committee adopted multiple policy changes to a proposed Tax Increment Financing (TIF) program: it made economic impact plans, independent 'but‑for' analyses, and public‑service impact assessments mandatory; added county finance-chair representation on the review committee; required county legal review of development agreements and an annual IDB report; and set a county default allocation at 50% with a step‑down mechanism for higher allocations.
The Bradley County Legal & Legislative Committee on March 25 approved a set of policy changes to a proposed Tax Increment Financing (TIF/TIFF) program intended to guide how the county reviews and approves future TIFF plans.
Most consequentially, the committee voted to require three documents before the board will consider a TIFF application: an economic impact plan prepared by an independent third party, an independent 'but‑for' analysis demonstrating the development would not proceed absent TIFF assistance, and a public‑service impact assessment prepared by local governments. Mayor Davis framed the motion: "an economic impact plan, an independent but for analysis as well as a public service impact assessment be mandatory in any application of TIFF," and the committee approved making those items prerequisites to consideration.
Committee members…
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