Council hears why Hundred and 79th Street corridor developments are exempt from new TIF rates

Councilors asked why the updated TIF rates did not apply uniformly to all locations, specifically the Hundred and 79th Street corridor. Susan Poizner explained the county entered development agreements about a decade ago when developers asked to lift urban holding in that area. Under those agreements, developers provided roughly two-thirds of the TIF amount up front and paid the remaining share at permit issuance. "The development agreement freezes those rates that that were in effect at that time for those projects," Poizner said, explaining why the update and inflation adjustment do not change those projects' obligations.

Councilors and staff also discussed project status: not all of the agreements' projects have been completed, and state timing for an interchange rebuild and other sequencing issues have delayed when some work will be built. Staff said at least one or two projects under those agreements remain outstanding and noted that when permits issue, the remaining shares will still be collected under the original terms.