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BRAG presents economic development tools to Smithfield council, outlines TIF/CRA process
Summary
Bear River Association of Governments (BRAG) Director Shawn Milne told Smithfield councilmembers about revenue tools including TIFs and CRAs, explained how commercial growth affects municipal revenue, and offered BRAG facilitation and a workshop; the council asked to receive the digital presentation.
Shawn Milne, director of community and economic development at the Bear River Association of Governments, briefed the Smithfield City Council on municipal economic development tools and the processes for incentives such as tax increment financing and community reinvestment areas.
Milne said that residents, developers and local businesses often have different expectations for economic development and that the city should set clear long-term objectives. He outlined primary municipal revenue sources — taxes, enterprise fees, PTIF/earned interest and intergovernmental grants — and explained how property values and the certified tax rate interact to determine revenue.
On incentives, Milne described tax increment financing as “a valuable tool” and sketched a typical CRA/TIF process: identify a project area, align developer and municipal goals, commission third-party financial analysis, negotiate TIF terms, hold public hearings and implement projects. He said BRAG’s administrative fees for facilitation are a percentage of the TIF and noted his position is “largely subsidized through Cache County because of legislation appropriations.”
Councilmember John Engler asked how Smithfield should balance residential population growth with revenue-producing commercial development. Milne said the right balance depends on Smithfield’s stated objectives and that retail development typically requires years of planning and preparation.
The council thanked Milne and City Manager Justin Lewis said he will share the digital presentation with members. Milne offered to facilitate further workshops and study sessions; no formal action or adoption of incentive measures occurred at the meeting.
