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City manager outlines TIFA/LDFA purpose and goals for fiscal year 2024–25

Tax Increment Finance Authority (TIFA) Regular Board · October 18, 2024
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Summary

Jon Schneider, City Manager and TIFA Director, reviewed packet materials explaining the TIFA/LDFA purpose and the board's goals and direction for fiscal year 2024–2025, noting the presentation will be shared twice a year to meet state requirements.

Jon Schneider, City Manager and TIFA Director, reviewed materials in the meeting packet explaining the purpose, role and focus of the TIFA and the Local Development Finance Authority (LDFA). Schneider said the board's goals and direction for fiscal year 2024/2025 were laid out in the packet and that "this presentation and information will be shared twice a year due to state requirements."

Board members asked for historical context showing TIFA revenue growth over the past 10 years; Schneider said he would bring back that information and that Project Committee appointments will be discussed at the January TIFA meeting. No formal change to the budget was proposed at this session.