City staff warn state TIF changes could strip about $800,000 from Sheldon increment
City Manager Sam Quaker briefed the council on pending state legislation that, as drafted, would remove the school foundation levy from TIF calculations and could reduce Sheldon’s annual TIF increment from roughly $4.2 million to about $1 million, costing the city an estimated $800,000 in accessible funds.
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City Manager Sam Quaker, with assistance from Scott Stevenson, briefed the Sheldon City Council on pending state legislation that would change how tax‑increment financing (TIF) is calculated and could significantly reduce the city’s available increment for projects.
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