Residential TIF Expansion
On June 23, 2021, the City held a public meeting to present an overview of TIF Districts and how they could be used to revitalize neighborhoods and to provide a forum for questions and answers. The presentation made by Keith Moran of Moran Economic Development can be found here.
The next step in the TIF expansion process is to finalize the new boundaries. Meetings to gather feedback on the proposed boundaries are being arranged specifically for residents of the neighborhoods that could benefit from the proposed expansion. Once the meeting dates are final, the schedule and meeting locations will be made available on this page and on the City’s social media accounts.
The purpose of TIF Districts is to help municipal governments stimulate redevelopment in a designated area. By expanding an existing TIF District to include adjacent residential areas, financial incentives can be extended to property owners and developers in the impacted areas. See the presentation made to City Council during the October 27, 2020, Council meeting here.
On or about July 13, 2022, a certified letter was sent to owners of property located within the proposed boundaries of the residential TIF expansion. This mailing contained official documents pertaining to August 9, 2022, Public Hearing. In that mailing, it was determined that there was a clerical error that had the general description for the northwest and northeast portions transposed. While this is not a material defect in the notice, an amended notice can be found here.
Moran Economic Development is leading the process of expanding TIF #2 to include portions of three adjacent residential neighborhoods. The maps of the proposed additions to TIF #2 and the final draft of the proposed Amended Redevelopment Plan are below:
Please see TIF Q & A for answers to some additional questions.