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Community Development committee approves TIF redevelopment agreement to advance Gator's Frozen Custard project to council
Summary
The Community Development Committee voted to advance a tax‑increment financing (TIF) redevelopment resolution for Gator's Frozen Custard (estimated eligible costs ~$787,937), returning 75% of generated increment to the property; staff and committee members discussed realistic reimbursement levels and district expiration (2038).
The Community Development Committee voted in roll call to forward a TIF redevelopment resolution for Gator's Frozen Custard to the full City Council for final consideration.
Staff summarized the proposed redevelopment agreement for the business at 105 South Main, explaining that the agreement would return 75% of the tax increment generated by the property to help reimburse eligible…
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