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Buchanan enacts DDA tax-increment financing amendment and flexible spending plan
Summary
The Buchanan City Commission enacted ordinance 2026.06452 on June 22, 2026, approving an amended Downtown Development Authority tax-increment financing plan and a flexible spending plan that uses existing EDA funds and future tax capture for downtown marketing, signage, Paris Mill and farmers market building improvements, and other projects.
The Buchanan City Commission on June 22 enacted ordinance 2026.06452, approving an amendment to the Downtown Development Authority (DDA) tax-increment financing (TIF) and development plan and adopting a spending plan developed with the DDA.
The ordinance — presented at a second reading — authorizes the DDA to apply existing Economic Development Authority funds and tax-capture revenues to a set of downtown priorities including marketing and wayfinding, events, improvements at Paris Mill, potential work on a farmers market building, incubator programming, and operations. The commission and staff described the spending plan as flexible rather than a fixed budget and said specific projects would return to the commission as needed.
"I move to approve the second reading and enactment of ordinance 2026.06. The downtown development authority plan and tax increment financing plan amendment ordinance as presented," a commissioner said during the meeting. Staff told the commission the plan contains standard language on loans and grants but emphasized that any loan program would come back to the commission for approval.
Supporters said the plan will enable coordinated downtown investment and allow the city to deploy funds already on hand alongside future TIF revenue. Some commissioners asked for clarity about loan provisions and broadband references in the document; staff answered that the language is permissive and intended to preserve options for future administrations.
The commission completed the formal vote during the meeting and moved forward with the plan. Implementation steps include project-level approvals and whatever subsequent procurement or contract actions are required for each undertaking.
