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October 21, 2014, 7:02 pm
970 WMAY News

Springfield City Officials Hesitant on School's Immediate Access to TIF Funds


Springfield school officials can ask for a cut of future TIF district revenues upfront… but they’re not likely to find any takers at Springfield City Hall.

 

Springfield economic development director Mike Farmer says he’s opposed to the suggestion from District 186.

 

He says the point of the TIF is to reinvest its increased tax revenues to promote more development… and taking money out for other needs defeats the purpose of the TIF.

 

School board members say they’d like to get 10% of TIF revenues right away, rather than waiting more than 20 years to reap the benefits of the TIF.

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