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Winfield Redevelopment Commission approves engagement with Crow to study residential TIF
Summary
The Winfield Redevelopment Commission voted to retain Crow to analyze a proposed residential tax-increment-financing (TIF) project tied to the Copperstone development; staff said Crow is the town's longtime financial advisor and will report detailed numbers at the next meeting.
The Winfield Redevelopment Commission voted to engage Crow to study a residential tax-increment-financing (TIF) project, commissioners said during the meeting.
"Crow is our longtime financial advisor for the town," a staff member said, describing Crow's familiarity with the town's priorities and finances. Commissioners discussed that the TIF study would identify how much money could be captured to fund infrastructure and other town needs.
A commissioner said the residential TIF tied to the Copperstone project could "recoup money directly to the town" and fund infrastructure improvements such as roads, police and fire facilities and land acquisition. The staff member said Crow will prepare numbers and report back at the next meeting.
The commission voted on a motion to approve the engagement with Crow; the chair declared the motion carried.
