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Highland council adopts TIF No. 3 and moves properties to support Frank Watson Parkway project
Summary
The Highland City Council on June 3 approved four ordinances to establish Tax Increment Financing (TIF) Redevelopment Project Area No. 3, move select parcels from TIF No. 1 into the new area, and adopt the TIF plan; council votes were unanimous. Economic Development Coordinator Mallord Hubbard said the change extends eligibility for incentives tied to Hunsche’s development along Frank Watson Parkway.
The Highland City Council unanimously approved a package of ordinances June 3 creating Tax Increment Financing Redevelopment Project Area No. 3 and moving certain properties into the new district to extend their eligibility for development incentives.
Economic Development Coordinator Mallord Hubbard told the council the main purpose is to include a development by Hunsche along Frank Watson Parkway near Route 40 in the proposed TIF No. 3. "By moving that property from TIF No. 1 to TIF No. 3, it extends the time that property is eligible for economic development incentives," Hubbard said.
Council considered four related measures. Bill #24-67/Ordinance #3339 removes the specified properties from TIF Project Area No. 1; Bill #24-68/Ordinance #3340 approves the Highland TIF Redevelopment Plan and Redevelopment Project No. 3; Bill #24-69/Ordinance #3341 designates the new Project Area No. 3; and Bill #24-70/Ordinance #3342 adopts TIF No. 3. Each motion was made and approved on roll call with Councilmembers Sloan, Frey, Bellm and Napper voting aye and none voting nay.
Mayor Kevin B. Hemann and Council members asked whether the plan had changed since the public hearing; Hubbard replied there were no changes since that meeting and that staff had addressed several calls from residents. Councilwoman Bellm said she appreciated the public presentations that preceded the vote.
The ordinances move forward the city’s TIF strategy for targeted redevelopment along Frank Watson Parkway; the council did not detail any immediate incentive awards at the June 3 meeting. The measures become part of the city record as Ordinances #3339–#3342.
