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Committee discusses using roughly $300,000 in TIF funds for local road and infrastructure improvements
Summary
Members said about $300,000 currently sits in a specific TIF fund and discussed routing those dollars toward road improvements that would support industrial traffic and future development in the allocation area.
A committee member said there is "a little over 300,000" in one TIF account and reported that county staff (Steve Moriarty) is exploring options to use those funds for road improvements in the area, which could address heavy industrial traffic and benefit future commercial development.
The group discussed using captured increment for road reconstruction or other infrastructure that supports the intended redevelopment. Staff cautioned that TIF funds are limited and that expenditures should be closely tied to the TIF’s intended projects; members noted prior expenditures on roads and agreed that strategic use of the TIF fund could provide tangible taxpayer benefit.
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