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The committee unanimously approved changing TIF rules so proceeds from selling property purchased with TIF funds return to the TIF fund instead of the General Fund. Members also unanimously approved a 2026 meeting schedule and continued reviewing a possible Northgate TIF district.
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Tax increment financing, or TIF, uses designated future tax revenue to support projects in a defined area. Under the approved rule change, money from selling property bought with TIF funds would remain available for TIF projects rather than going to the General Fund. The committee is still developing the Northgate proposal and discussing project priorities; a TIF budget was planned for a future meeting.
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