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Lisbon opens public hearing on urban renewal amendment tied to Goose Bay project
Summary
Council opened a public hearing and read resolutions to amend the Lisbon urban renewal area to include Goose Bay Properties LLC (the former Elite Stone factory), a step the city says is needed to allow TIF funding and a development agreement for the project.
The Lisbon City Council opened a public hearing on a proposed amendment to the city’s Urban Renewal Act that would expand the Lisbon urban renewal area to include the Goose Bay Properties site (referred to in the transcript as the elite stone factory).
Staff told the council that inclusion in the urban renewal area is necessary in order to use tax-increment financing for the Goose Bay development. The council read Resolution 27-2025 to approve the urban renewal amendment and read a companion resolution (Resolution 28-2025) to set a meeting date for consideration of a development agreement with Goose Bay Properties LLC, including an annual appropriation tax agreement.
Council members moved and seconded the steps to proceed to public hearing and to schedule the development-agreement meeting. Staff described the next steps as standard for projects that rely on TIF: amend the urban renewal boundary, finalize the development agreement, and then take the finalized agreement back for council approval.
What happens next: the council has scheduled the formal meeting to consider the development agreement; staff will prepare and present the proposed agreement and the annual appropriation tax language for council consideration.
