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Belgrade staff: TIF district has about $2M; council weighing $10M bond to fund downtown projects
Summary
City staff told the new Belgrade TIF advisory committee the district has aggregated roughly $2,000,000 since 2017 and council is considering bonding against future revenues to allow about $10,000,000 in up‑front investments for downtown infrastructure and catalytic projects.
At the committee’s first meeting Catherine, the city’s economic development director, told members the TIF has “about $2,000,000” in accumulated increment revenue and that the council is exploring bonding against those revenues to fund larger projects. “The council is considering bonding against this TIF to allow a $10,000,000 investment to move some of these projects forward,” she said.
Staff cautioned that budgeting and bonding are council responsibilities and the committee’s role is advisory. Committee members asked for year‑by‑year revenue breakdowns to better project future increment; staff said it would provide that data on request. The committee also discussed balancing high‑profile catalyst projects and smaller façade or grant programs in future work.
