[youtube]https://www.youtube.com/watch?v=rEFiECjQCR4#t=4457[/youtube]
(starts at 20:30)
Funny how the commission gets to see this presentation before the council – or at least I can’t recall the council getting the presentation yet?
Darrin explains TIFs before the new TIF presentation. While he is correct that TIFs don’t cost taxpayers up front (even though we are footing the bill to administer them) we are losing property tax revenue for several years. Basically the developers are paying themselves property taxes and using the money to pay for the development.