Discussion:
Canterbury is looking to expand the existing district to include several additional properties on the north east corner of the existing district that were not included. This would allow the proposed road extension to be inside the District and be included in the in district funding.
Also, the plan would be amended to allow for additional TIF revenues for companies paying in excess of $20/hour that make a substantial investment, like a corporate headquarters that would invest $25 million to a $100 million or more. We have had several companies interested in the site but currently they can't benefit from the existing TIF since it is designed for public infrastructure.
The restricting of the District and TIF will be presented at the May 21, 2019 meeting.