Knox Mayor Dennis Estok shared plans to potentially expand the Tax Increment Financing (TIF) Districts in the City of Knox during Tuesday night’s City Council meeting.
Estoke explained, “We are basically going to be looking at extending our TIF Districts; one in the industrial park and then the other one, our regular TIF that runs downtown and down highway 35.”
Estok noted that they will need to coordinate with the county on the expansion, as they’re hoping to extend the downtown TIF District all the way to 200 South.
He added that especially with Stellar Community talks on going, officials want to take the necessary steps to ensure that if they wanted to extend Main Street further than it is now, they would have the ability to utilize TIF funds to pay for potential work that’s needed and grant matches.
The Mayor was simply presenting the idea to the council as a potential project to be considering for 2019 so no official actions were taken Tuesday night. However, it will likely come up again when the council members meet in the future.
