Tax-increment financing application for downtown developments now available
Posted on January 26th, 2009 by jewelsphraner
The Columbia City Council released it’s tax-increment financing application for developments in The District last week. The city’s TIF Committee will review the applications and then make a recommendation to the council on whether each application should be approved or denied, on a case-by-case basis.
TIF is an economic incentive where the city predicts how much additional property tax revenue a project will generate and then invests that amount into the project for the cost of infrastructure changes.
Filed under: 1st Ward, City Government, District redevelopment, Infrastructure, TIF