Redevelopment Authority votes no to moving $450,000 of Exchange St. Expenses to TIF#5

On a 3-2 vote, the Redevelopment Authority Committee on Tuesday night voted to recommend to Finance Committee that $450,000 of expenses paid by the city for reconstruction of Exchange Street not be moved to TIF #5 on the basis that these expenses were usual infrastructure expenses and not really the type of investments appropriate for TIF financing, and they would possibly make it more difficult for TIF #5 to attain the necessary tax increment to be successful.