Council approves tax‑status agreement to allow Impact 7 River Crossing development to proceed

Councilors approved a negotiated tax‑status agreement enabling Impact 7, a nonprofit developer, to proceed with the River Crossing project while preserving revenue to the city for services. Staff summarized the agreement as allowing a promissory non‑taxable period (approximately 15 years in line with TID terms) and, importantly, an ongoing payment‑in‑lieu mechanism for the city’s portion of property taxes should the property later be placed on a tax‑exempt roll.

Staff said the agreement had been reviewed by the city attorney and negotiated to a middle ground that preserves city service revenue without blocking the development. A council member noted the agreement would help provide housing for veterans and people with disabilities and praised Impact 7 as a viable partner. The measure passed by roll call.

The agreement does not make the property permanently taxable; it provides a negotiated schedule and payment‑in‑lieu protections to offset city service costs while allowing the developer to proceed with the project.