Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tif Projections topic
No spam. Unsubscribe anytime.
Consultant presents draft TIF revenue projections; board told figures are estimates
Summary
Consultant gave low/moderate/high projections and offered draft totals to 2042 (North ~$1.5M; Central ~$40M; South ~$4M) while noting methodological variation and that city finance will provide final numbers.
At the Aug. 5 CRA workshop, the consultant presented draft Tax Increment Financing (TIF) increment projections for the three CRA districts through the CRA sunset year (2042). The consultant said projections would be shown in low, moderate and high scenarios and cautioned that methodologies vary by consultant.
The consultant reported the draft totals as approximately $1,500,000 for the North District, about $40,000,000 for the Central Business District and roughly $4,000,000 for the South District through 2042. The presenter warned that these are estimates and that city finance staff will supply the definitive figures: "Every year, of course, your finance department is gonna give you the right number," the consultant said.
Board members requested that the consultant include three scenarios (low/moderate/high) and confirmed that the next plan deliverable will connect these projections to a five-year CIP for annual budgeting.
