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EDC to research Tax Incremental District (TID) options after developer request
Summary
A developer asked for a TID in the village; the EDC agreed to research different TID structures and bring recommendations, coordinating with the zoning rewrite and staff support.
Committee member (voice 2) raised a developer request for a Tax Incremental District (TID) within village boundaries and recommended the Economic Development Committee research options used by other communities.
"We we have some property that is located in the village that the developer has requested a, TID district," the member said, urging the EDC to explore structures that could benefit the community. He recommended the EDC look at downtown Salem Lakes and alternative business-district approaches and to coordinate the research with the village's zoning rewrite and staff.
The committee agreed to keep the topic as a standing item and to expedite information gathering so the EDC can make informed recommendations to the council. No formal TID designation or vote occurred at the meeting.
