Douglas County Has Concerns Over Port’s Tax Financing District Plan
The Port of Douglas County is proposing formation of a Tax Increment Financing District at the Pangborn Industrial Service Area near Pangborn Airport.
Tax increment financing in it's simplest form would allow the CDRPA to use the difference between the amount of property tax revenue generated before TIF designation and the amount of property tax revenue generated after designation to fund improvements like road, sewer and water to attract more development. It would not effect many taxes like school levies.
Read More: How Does the TIF Effect Local Douglas County Taxing Districts
Douglas county Commissioners cited several objections last week, chief among them, that it impacts more than a $200 million statutory limit of assessed property value and claims economic benefits from the public tax investments that is already in the works or planned within the district boundaries.
Jordyn Julio, Douglas County Administrator sent a letter from the Board of Commissioners to the Chelan Douglas Regional Port Authority (CDRPA) outlining the concerns and changes it wants before the CDRPA votes to proceed.
Douglas County Commissioners cited six concerns and recommendations supported by a consultants study they feel support their positions that the TIF is not appropriate as currently proposed and will harm junior taxing districts and taxpayers.
Chief among the County's concerns were the Port's designation of the increment area which may exceed a $200 million dollar toatl assessed value limit. Chelan Douglas Regional Port Authority CEO Jim Kuntz says the Douglas County Assessor did not use 2023 valuations for 2024 taxes as the TIF proposal was based on.
Douglas County also cited a study by Stowe Development & Strategies that concludes that private development and investsment plans already underway in the Pangborn Industrial Service Area by Microsoft and others are being touted as part of the overall finacial benefit that will result from the investment in public resources. The purpose of a TIF is that it will foster economic growth and public benefit that would otherwise not occur.
Kuntz admits there is new investment proceeding in the area "but we want to be able to attract the next businesses four, five and six years down the road. To do that, the sites that are currently zoned industrial within the county comprehensive plan that lack water and sewer, we want to bring water and sewer to those parcels".
Kuntz says there are many parcels in the proposed TIF district up Grant Road that don't have the services and will require heavy investment in sewer and water extension projects to attract the next traunch of business development. To do that, CDRPA has elected to form a TIF.
Two public hearings are scheduled this month before the Regional Port votes on proceeding with the proposed Tax Increment Financing (TIF) District:
• November 14th at 4:00 PM • November 21st at 6:00 PM
Location: Confluence Technology Center 285 Technology Center Way, Wenatchee, WA 98801
Here is a link to participate via a Zoom Meeting https://us02web.zoom.us/j/81580229402?pwd=NaEuQnuPsmRzxMyI4TqRoh0aUU2SZj.1
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