Downtown Redevelopment

Links to documents/articles:

One North Washington Project


Conceptual Plan

Redevelopment Agreement (RDA)

Final RDA revision, approved 9/6/16

Amended RDA, approved 1/2/18

RDA Timeline

Tax Increment Financing (TIF) Plan and Program

TIF Timeline

City’s web page with traffic, parking, economic impact studies

General TIF Information

Does Tax Increment Financing (TIF) generate economic development?

Tax Increment Financing: A Bad Bargain for Taxpayers

Tax-Increment Financing–The Need for Increased Transparency and Accountability in Local Economic Development Subsidies

Tax Increment Financing–Opportunities and Concerns

For a rosier view of TIFs, visit the City’s Redevelopment Plan page

Financial Information for TIFs 1 and 3

Accounting for 2016 through July (statement from City Finance Director: “The current year status is not an accurate account of where the TIF’s will end the year because expenses that we know we will incur have not hit yet and we have not received all property taxes.  The City Council authorized a loan to TIF 1 from the General Fund to finish Houston Street.  Those funds will be repaid to the GF with interest over a period of 4 years.  I have attached a trial balance through July of this year that shows current state of TIF 1 & TIF 3.  The loan shows as due to General Fund.”): TIF TB July 2016 

TIF 1 history:  Revenue; Expenses

TIF 3 history:  Revenue; Expenses

Baptist Church Purchase History