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TID 9 shows prior-year corrections and a 2023 deficit; Haven Hills expected to contribute to future increment
Summary
Ehlers reported a prior-year correction will affect TID 9’s certified incremental value and that upcoming recognition of value from the Haven Hills development is expected in next year’s certification; the district had a 2023 fund-balance deficit of about $768,000.
Greg Johnson of Ehlers told the meeting TID 9, created in 2017 and amended in 2018, had an incremental value just under $3,000,000 as of Jan. 1 and a 2023 fund-balance deficit of about $768,000. "This district is projected to remain open for its full maximum life," he said, and noted ongoing development at Haven Hills will be reflected in incremental values once certified.
Johnson described an anticipated prior-year correction to assessor values that will be certified in August and affect the 01/01/2025 incremental value. City staff confirmed that incremental value from Haven Hills will be added in the next certification once finalized.
