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Data-center growth lifts TIF 3 revenue outlook but staff remains conservative
Summary
Staff told the TIF 3 board that data-center development in the north portion of the zone could yield up to $840 million in total value over multiple phases, though staff only assumes 35% of that value in long-term projections and continues to use conservative growth assumptions.
Finance staff told the TIF 3 board that one of the main drivers behind the North South portion of the TIF is data-center development. Allison Steadman described a scenario in which the data centers could total about $840,000,000 in value across future phases, but said staff is only including 35% of that total in its planning assumptions because phasing and timing remain uncertain.
Board members and staff noted that some phases are already under way: staff and board participants said phase 2 activity has started and that several data-center firms, including NTT and a company formerly known as Digital Realty, are in the area. Steadman said the FY27 model only uses conservative growth assumptions and that any additional phases would be incorporated into an updated project-and-financing plan.
