We have a lot of important votes to cast in the upcoming election. I hope everyone exercises their right to vote. One of the items Sugar City residents will vote on is regarding the creation of a Sugar City Urban Renewal Agency (SCURA). After considering the pros and cons of an urban renewal agency, the city council approved sending the issue to the public for a vote. I’m generally in favor of Tax Increment Financing (TIF) districts, which is a standard economic development tool used by urban renewal agencies. I’m not an accountant or expert on these matters, but let me see if I can explain my understanding of a TIF district and why I would encourage you to vote yes on the issue in November. ( The State of Idaho Code refers to TIF districts as “Revenue Allocation Areas,” but I’ll use “TIF districts.”) The intent of a TIF district is to use the property taxes from a specified area to improve that area through residential, commercial, or public development projects, which, in ...
The occasional report and commentary from council member Glenn Dayley regarding Sugar City City Council meetings and our great community.