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Council authorizes TIF finding, clears way for B and H Investments redevelopment
Summary
The council found that B and H Investments' planned redevelopment would not be feasible without tax-increment financing and adopted Resolution No. 2026-37 to grant up to 100% of the annual tax increment for up to 15 years beginning in tax year 2026.
The council on a unanimous voice/roll call authorized a tax-increment financing (TIF) finding and directed staff to negotiate a redevelopment contract with B and H Investments Inc. for Redevelopment Area No. 10, described in the application as Lot 1, Old Father 1st edition. A project representative described the site as currently vacant land and said the developer seeks roughly $822,000 in eligible project costs.
A councilmember moved that "the redevelopment project be granted a 100% of the annual increment in real estate taxes up to the certified eligible project cost over a period not to exceed 15 years, beginning with tax year 2026," language the body adopted as Resolution No. 2026-37. The motion—intended to make the project economically feasible—passed on roll call; the chair and legal counsel were authorized to negotiate and execute the redevelopment contract. No contract award was made at the meeting.
The presentation noted the project would include a combination of office and warehouse space with an anticipated completion by the end of the year and an increment that would begin in 2026. The council did not debate alternate funding sources in detail during the meeting, and the adopted finding reflects the council's formal determination for the record.
