South Portland City Council Meeting Agenda 2026-05-05
City Weighs Extended TIF And Credit Deal With TI
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Description
South Portland is considering extending and restructuring the Texas Instruments TIF into a new Transit-Oriented Growth & Infrastructure district running through June 30, 2046, with Texas Instruments seeking a renewed credit enhancement agreement. The plan would allocate up to 25% of TIF revenues to credit enhancements and the remainder to transit-oriented and affordable housing projects.
Contract Details
Vendor
TEXAS INSTRUMENTS
Agency
South Portland Public Schools, ME
Contract Type
FINANCIAL_SERVICES
Document Date
May 5, 2026
Contract Term
Through June 30, 2046 (proposed TOGI TIF district term)
Renewal Date
2046-06-30
Renewal Info
Proposal would extend the existing TI TIF district and establish a new long-term TOGI TIF framework including a fresh credit enhancement agreement through 2046.
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