Consideration of Tax Increment Financing Assistance for the RED Retail Buildout Project (Lyon Living) and Possible Recommendation to the Redevelopment Agency Board

Art Rangel praised the RED project as a major catalyst that generates bed and sales tax, but agreed that if the but-for gap analysis shows no financial need, the TIF request should be denied.

In later public comment, Mr. Rangel expressed surprise at the notion of using existing building elements for financing and cautioned against setting a precedent for TIF on completed structures.