Council approves development and subgrant agreements to keep private TIF project moving
Council approved Resolution 2026-24 authorizing a private development contract and subgrant tied to an existing tax-increment district, with staff given authority to finalize figures and conditions to keep the project moving while negotiations continue with the developer.
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The council approved a resolution on July 14 authorizing the city to execute a private development contract and a related subgrant agreement for a project within the city’s tax increment financing district. City attorney recommended approval to avoid delay while the developer and city finalize dollar amounts; staff and the city’s financial adviser had concluded the developer’s requested increase likely exceeds what the city can provide.
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