Let's give $1.8 million dollars back to the schools
Follow the links from the agenda and it will take you to the 2025 PLAN AND UPDATES / ASSOCIATED REFERENCES AND DOCUMENTS page. Once there you can find a listing titled "TIF Examples and Estimates"
Look on page the 14th page titled "Montgomery County South TIF ( Alcore ) Example"
Look for the section titled "Totals for School New Revenue" years 1-10.
The second column gives us the 2014 estimate of the amount of money the schools will get because the City created a TIF around this property ($768,477).
The third column tells us the 2014 estimate of what the schools would receive if the city did not create that TIF or if we created a Non-school TIF like I was able to secure for the Park Towne TIF ($2,561,588)
I hope that my presenting this information about TIF helps people understand the complicated relationship between the schools and the City and makes it less likely I will see incorrect assertions such as "City money can't be used towards school/bussing"
Today, it is fully within the power of Council correct the mistake made in Dec 21, 2012 when they created the Alcore and Family Dollar TIFs. We can make both of these into Non-School TIFs. This alone is estimated to put $1.8 million dollars more to the schools over the next 10 years.
I will be advocating for this change again. I hope to get your support in this effort.
Below is page 14 from the "TIF Examples and Estimates" Look for the arrows to see the difference between a 70/30 TIF and a Non-School TIF.
Remember: the city spent zero ($0) dollars in infrastructure to support this development.