TIF District Activation and Property Tax Capture
Summary
Once the land deal closes, the City will bring forward a resolution to activate a TIF district that captures all of Firehawk's property taxes for 25 years. Because the property is currently owned by a tax-exempt entity, the base value is effectively zero — so every property tax dollar the company generates gets captured by the district during that period.
At a glance
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Last discussed Mar 30, 2026.
Impact analysis
Captured TIF revenue of about $18 million over 25 years funds the land payments; other taxing bodies won't see those property tax dollars during the TIF period.
The project itself — TIF revenue repays the land debt and supports the development without new money from existing taxpayers.
Other entities that normally share property tax revenue (schools, county) receive only the base value — effectively zero — during the 25-year capture period.
Mentions & discussions (1)
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