Council hears plan to boost CBD TIF special‑projects line for Pickering Park opening
Staff told council the Central Business District TIF is projected to move from $1.8M to $2.6M next year and that the CBD TIF special‑projects line rose from $50,000 to $300,000 to support Pickering Park opening events; Molly Ballesteros said an opening event was tentatively estimated at about $30,000.
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City staff briefed the council on TIF (tax increment financing) district finances and proposed uses for special‑project funds. The Central Business District (CBD) TIF's budgeted revenue rose from $1,800,000 to $2,600,000 in the next fiscal year, driven by increases in the increment; staff said they plan to use $688,000 in reserves to balance the CBD TIF for the upcoming year.
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