Consultant presents 2025 TIF management report: revenues, expirations and housing growth

Andy Mauser of Baker Tilly presented the town’s April 15 TIF management report, which reviews 2025 activity, outstanding TIF obligations and the status of allocation areas.

Mauser described the report as backwards‑looking: it summarizes 2025 receipts and expenditures for the redevelopment commission, notes that TIF 1 contains roughly $48 million in assessed value that will be returned to the tax base as allocation areas expire, and lists eight separate fund balances tied to various TIF allocation accounts. He said redevelopment commission revenue in 2025 was just over $1,400,000 and expenditures were about $1,200,000, the majority for debt service.

Mauser said the town has six TIF‑supported bonds outstanding; only one is further backed by the town itself (a 2018 bond issued for infrastructure improvements) and is scheduled to be fully repaid by 2031. He also reported residential growth: 123 new homes completed in 2025 with an estimated sales price around $399,000; those additions will be assessed in 2026 and begin to show up in tax rolls in 2027.

Council members asked how TIF payments to overlapping school districts would appear in the report; Mauser said those payments would be reported under expenditures and broken out as grants or loans of TIF in future reports. He said residential TIFs created in recent years can be used for infrastructure, incentives and now — after recent legislative change — childcare facilities, including operating costs.