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Board told TIF No. 2 will accumulate large fund balance; 50% public‑safety transfer remains in plan
Summary
Staff said the TIF 20‑year plan would accumulate a substantial fund balance under conservative growth (1.5%) and that 50% of incremental revenue is programmed to support public safety (approximately $35.8 million over 20 years); staff emphasized funds would be reserved until suitable projects arise.
Staff member (S1) told the board that, under the current baseline projection, the TIF will accumulate a large fund balance over the 20‑year term and that the project plan programs a public‑safety transfer equal to 50% of incremental TIF revenue—totaling about $35,800,000 over the period. “That totals 35,800,000 over that 20 year term,” the staff member said while reviewing the expenditures assumed in the projection.
Staff also noted a G&A contribution of roughly $1,100,000 over the term and that the only near‑term programmed expenditure is the final year BASPRO incentive of $67,000. Board members discussed the allocation methodology for public‑safety expenditures and requested staff provide historical expense comparisons and a GIS overlay to better assess area‑specific costs and benefits before recommending changes to the project plan.
