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Presentation: TID 7 report shows $30.2M incremental value and modest fund balance
Summary
An Ehlers presenter summarized TID 7’s history and finances: created 2005, amended 2016, with 01/01/2024 incremental value reported at $30,213,600, a 2023 fund balance of about $91,000, and projected closure considerations that include future development grants and infrastructure costs.
Greg Johnson, a presenter from Ehlers, summarized the TID 7 annual report and walking members through the district’s background and financial projections. "The most recent incremental value as of 01/01/2024 is $30,213,600," he said, and noted the fund balance at the end of 2023 was approximately $91,000.
Johnson explained the district was created in 2005 as a rehabilitation district and amended in 2016 to add territory and update project costs. He said the district’s expenditure period ends in 2027 and increment collections run through 2033, and that projected closure calculations factor in expected costs for development grants, street work, street lighting and utility projects.
