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Tilton approves TIF registry, feasibility study and multiple redevelopment agreements
Summary
The board approved an ordinance to establish a TIF registry and voted to place a TIF feasibility study on file and approve associated spending. Trustees also approved redevelopment agreements authorizing TIF use with RBM Real Estate Holdings LLC and Brand New Again Furnishings LLC and moved to remove certain properties from a redevelopment area.
Trustees considered a set of tax-increment-financing items including an ordinance to establish an interested-parties registry, placing a TIF feasibility study on file and approving spending to notify affected taxing districts, and redevelopment agreements using TIF financing for specific property projects.
The board recorded motions and votes to approve the registry ordinance, accept the feasibility study for the TIF area, and to authorize redevelopment agreements referenced in the meeting materials (RBM Real Estate Holdings LLC; Brand New Again Furnishings LLC). Trustees also voted to remove certain properties from TIF Project Area 2 per staff recommendation. Staff said the feasibility work will be circulated to affected taxing districts as required.
