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October 22, 2014, 1:24 am
970 WMAY News

Dist. 186 To Get Over $3 Million From Expired TIF


District 186 could see some financial relief, at least in the short term.

 

Springfield city budget director Bill McCarty says the school district will get more than $3.6 million when the remaining money from the expired Park South TIF district is distributed in November.

 

And with Park South property taxes no longer partially going into the TIF fund, the district could see an additional million dollars every year after.

 

But not all the news is positive.

 

The condemnation of properties for railroad relocation could reduce property tax revenues in the short term… although officials think the rail project will spur more development for a net increase in the long run.

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