FAQs: Frequently Asked Questions

Does this increase in the Public Financing Cap hurt the school districts and other taxing jurisdictions that rely on property taxes for funding?

Not very much. The proposed Amendment includes a new concept that caps the amount of public incentive that the developer can receive for reimbursements from the property tax TIF.  No more than $19,534,921 of the developer's public incentive money can come from property tax TIF, the balance must come from either sales tax TIF revenues or CID revenues. 

This $19.5M cap number is about $1M more than the original $18.4M of revenue projected from the TIF Plan in the original project pro-forma.  As the School District and the other taxing jurisdictions’ revenues are tied exclusively to the property tax, these taxing jurisdictions’ proportional revenues will be minimally impacted.