By Terry Murry on Wednesday, May 24th, 2023 in Columbia Basin News More Top Stories
WALLA WALLA – Walla Walla’s new deputy city manager Robert Francis is asking the city council to approve a resolution at tonight’s (Wednesday) meeting that would authorize the city manager to execute a $65,797 professional services agreement with a consultant related to tax increment financing. Tonight’s meeting begins at 6:30 p.m.
According to city staff, TIF allows local governments to finance public infrastructure in targeted areas. The goal of the public investment is to encourage private development and investment leading to increased tax revenue.
As a result of the Feb. 6 council workshop, staff issued a request for proposals on March 19 for consultant assistance in developing the project analysis, identifying the infrastructure improvements, financial analysis, preparation for public hearings and engagement, and submittal to the Washington State treasurer. The city received two proposals for consultant work and determined Tiberius Solutions, based in Portland should receive the contract.
The preparation work to implement a TIF is anticipated to run through 2023 with submittal to the Washington State Treasurer in early 2024. If approved, the tax increment financing is estimated to be effective June 2024.