This Resolution originated from the Bloomington Redevelopment Commission to establish the new Summit District Economic Development Area, the Summit District EDA, and a part of that Area, Shasta Meadows, as an allocation area having a residential housing program. Assuming the statutory process is completed, this will establish what is commonly referred to as a Residential Tax Increment Financing (TIF) area for the Shasta Meadows allocation area. Allocation areas for the remainder of the Summit District EDA will be created as development plans further advance.
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