Committee advances revenue-bond step for Foundry on 3rd developer agreement
The committee approved proceeding with a revenue-bond issuance step linked to the Foundry on 3rd developer agreement; staff said the bond would be a PAYGO-style TIF mechanism paid from tax-increment revenue, not general-fund taxes, and that developer minimums are being met.
The full story
The Finance Committee approved a step toward issuing a tax-increment–backed revenue bond tied to the Foundry on 3rd Street developer agreement on Aug. 25. Staff explained the bond provides the developer assurance needed to secure permanent financing while preserving that repayment comes from TID increment rather than the general fund.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in