EXECUTIVE (HARBISON & THILTGEN)
- Report on Tax Increment Financing (TIF) Refinancing
At its February 11 meeting, the Board authorized four loans with Regions Bank (Regions Capital Advantage) to refinance ten existing tax-increment loans. This was to take advantage of lower interest rates (1.92%) and to make the annual debt service requirement from the Metropolitan Government lower and more stable. Those loans closed on March 27. The Tennessee Comptroller of the Treasury requires that a report on all debt obligations be provided to the Board during a public meeting and then submitted to the Comptroller. According, a Report on Debt Obligation for each of the four loans is being provided to the Board during this meeting. No action by the Board is required.
Published On: April 10, 2020