Relating to: extension of tax incremental district lifespan for purposes of housing stock improvement. (FE)

SB 689 allows cities to extend the lifespan of tax incremental districts (TIDs) used for housing projects by up to three years after initial development costs are paid. Cities must obtain joint review board approval for extensions longer than one year. This change applies to existing TIDs focused on improving housing stock, giving cities more time to complete development projects using tax increment funds. The bill modifies statutes to clarify extension rules while maintaining oversight requirements.