The Knox City Council this week discussed the replacement of a lift station near Clabaugh Drive and U.S. 35. According to Clerk-Treasurer Jeff Houston, the council is looking into covering 50 percent of the cost using their TIF funds, with the other half to be taken from the Cumulative Sewer Treatment Fund. Houston says the expected cost of the project is $188,301.08.
The TIF fund is a tax-incremental financial account, with each TIF district contributing a portion of their tax money into a special account for infrastructure and development. TIF districts are districts of the city in which taxes stemming from improvements to properties within the district are added to the fund.
The town is also looking into the possibility of performing relining on a separate sewer line, and the council will later meet and vote on a formal proposal for relining the South Side Lift Station.
