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TID 8 report: $4.7M incremental value and funds earmarked for capital projects
Summary
Ehlers reported TID 8’s incremental value at about $4.7 million with a 2023 fund balance just over $1 million; some of those funds are slated for capital projects authorized within the district and the district is projected to close around 2030 under current assumptions.
Greg Johnson of Ehlers walked members through TID 8’s annual report, noting the district was created in 2006 and is projected to continue collecting increment through 2034 under conservative assumptions. "The most recent incremental value for this district is approximately $4,700,000," he said, and that the 2023 fund balance was just over $1,000,000.
Johnson said the fund balance will support authorized capital projects and that the district is projected to have sufficient funds by 2030 to pay off remaining obligations if no further projects materially change revenues or costs.
