Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Rona Park staff brief council on using an EFID to fund downtown infrastructure
Summary
City staff outlined how an Enhanced Infrastructure Financing District (EFID) could use tax-increment financing to pay for redevelopment projects; the council authorized staff to pursue fact-finding for a low‑cost Phase 1 analysis after members raised questions about costs, county buy-in and outreach.
Senior analyst Kevin King told the Rona Park City Council that an Enhanced Infrastructure Financing District, or EFID, would use tax‑increment financing (TIFF) to capture growth in property tax revenues inside a defined boundary and redirect that increment to local infrastructure projects. King said EFIDs can run 10, 20, 30 or up to 45 years, rely on an Infrastructure Financing Plan (IFP) to identify projects, and are governed by a Public Finance Authority (PFA) that can issue bonds backed by TIFF revenues.
King said the city’s preliminary work will begin with a limited “fact‑finding” Phase…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
