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ChatGPTClaudePerplexity· Context
TIRZ #2 board reviews its incentive practice and adopts a FY2023-24 budget with $60,000 more for rebates
In July 2023 the East Gateway TIRZ #2 board accepted its September 30, 2022 audit, reviewed a draft FY2023-24 budget and discussed a policy on project size and incentives; the Director of Planning said the board had typically granted 10-year, 50% rebates, while the Toot'n Totum agreement was 90% for five years and 50% for five. On August 17 the board unanimously adopted the budget after the Director of Finance added $60,000 to the rebate line, and heard that revenues had come in lower than expected.[1][2]
What the sources say
- ✓ Verified
At the July 20, 2023 TIRZ #2 meeting the Director of Planning "advised typically the Board has done 10 years, 50% rebates. The Toot N Totum project is 90% rebate for the first 5 years and then it is 50% for the last 5 years." The board accepted the September 30, 2022 audit unanimously, and the Director of Finance said the FY2023-24 budget would need to be amended by $60,000 for rebate payments. The Director of Planning also noted that an infrastructure reimbursement agreement the board accepted in January 2023 appeared in the current year's budget as a new item. [1]
- Rebate amendment
- $60,000
- ✓ Verified
On August 17, 2023 the Director of Finance told the TIRZ #2 board that certified values had arrived from the Potter-Randall Appraisal District and that "he added $60k into the rebate line of the budget"; the FY2023-24 budget was approved unanimously. Presenting the quarterly report, he said revenues "had come in less than expected." The minutes do not give budget totals. [2]
