FAQs: Frequently Asked Questions

Does this new TIF Plan extend the life of the TIF?

The proposed TIF Plan does extend the life of the TIF for the South Phase of the project.  The new TIF Plan gives the developer a fresh 20-year "TIF Clock" for the South Phase of the project only.   Accordingly, if the Governing Body approves the new TIF Plan, the TIF on the South Phase would expire in 2036. 

It does not do anything to extend the TIF on the balance of the Woodside Village project, including the North Phase.  The North Phase TIF will still expire in 2033. Even though the TIF clock is being restarted, the developer is still limited to collecting a maximum of 20-years of TIF revenue from both the South Phase and North Phase of the project.