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Council and CDA authorize $268,000 TIF note for RVR Bank redevelopment
Summary
The Community Development Agency and the City Council each approved resolutions authorizing issuance of a $268,000 TIF note to reimburse demolition and site‑preparation costs for the RVR Bank redevelopment project.
The Community Development Agency and later the full City Council approved a resolution authorizing the issuance of a $268,000 tax‑increment financing (TIF) note to reimburse demolition and site‑preparation costs for the RVR Bank redevelopment project.
City Attorney Travis Jacotte told the CDA the developer "has asked that we issue the TIF note" and provided that the request is "pursuant to the agreement that we have with them," noting the developer submitted costs incurred for demolition and site preparation. Councilmember Horner moved to approve the CDA resolution, which passed at the CDA meeting. The governing body then took up the same item and approved the identical resolution on the city council consent/new‑business docket with an 8–0 vote.
The motions were recorded in both the CDA and council proceedings; no public comment opposed the TIF request during either consideration. The resolutions authorize the issuance of the note under the terms presented in the packet and direct staff to process the issuance.
