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City of Conway asks Orie County Schools to contribute incremental TIF revenue for 30‑year riverfront redevelopment
Summary
City of Conway officials asked the Orie County Board of Education to partner in a 30‑year tax‑increment financing (TIF) district covering roughly 449 acres including the former Granger generating station, proposing $78.9 million in public infrastructure and projecting long‑term net gains for the district.
John Rogers, speaking for the City of Conway, asked the Orie County Board of Education on Nov. 17 to consider participating in a 30‑year tax‑increment financing district covering about 449 acres and roughly 296 parcels along the riverfront and downtown.
Rogers told the board the TIF would allow the city to borrow a capped amount to fund public infrastructure that would be repaid from new tax revenue generated inside the district rather than from the existing tax base. He said the city plans to invest approximately $78.9 million in public infrastructure and that a third‑party economic analysis estimates roughly $380 million in total economic impact from the redevelopment.
"We are asking of the district is straightforward: contribute 100% of the incremental tax revenue generated inside the district," Rogers said, while adding participation is negotiable and the intergovernmental agreement can be tailored to district needs.
City representatives said the district’s current assessed value in the proposed area is roughly $2.75 million and that, after redevelopment and private investment, projected assessed value could rise to nearly $13 million (fair market value cited as more than $266 million). The presenters told the board the school district would break even five years after the TIF expires and, over a 50‑year horizon, the district could be about $12 million better off than without participation.
Board members pressed for details. Trustee James Edwards asked whether the presentation had changed since an earlier request and whether debt‑service millage could be negotiated out of any participation; the presenters said such terms are commonly negotiated during the intergovernmental agreement process. Rogers also said the large majority of acreage in the proposal is publicly owned by the city and currently not generating property tax revenue.
No formal action was taken at the meeting. Rogers said the city would like the district to negotiate an agreement and that the board’s objection on file leaves room for a modified participation agreement. The board indicated it would review the third‑party analysis and consider the matter at a future meeting; a timeline for a decision was not set at the meeting.
