TIF district considered for Commercial Street

Merchants, residents and property owners along the strip are invited to the open-house event scheduled 5:30–7 p.m. at Cook’s Kettle, 200 W. Commercial St.

A tax-increment financing, or TIF, district comprises a geographic area where a certain increment of new taxes generated there can be captured for identified capital projects.

To establish a district, a series of hearings would be held before the city’s TIF Commission, Planning and Zoning Commission and City Council, which would have final say.

Questions that will be addressed at Thursday’s meeting include:

• How would a TIF district affect tax rates?

• What would it cost stakeholders?

• Would eminent domain be used?

• What options can be used to fund a TIF?

• What projects can be funded with a TIF?