The Knox City Council considered a resolution related to a newly established Tax Increment Financing area for the new cold brew coffee manufacturer expected to build a facility on Division Road.
Baker Tilly Manager Andy Mouser spoke a bit about the resolution and what it means for Common Collabs before the council made any decisions.
He noted, “The resolution talks about kind of the history of your industrial park TIF area. It was set up in 2015 and then expanded earlier this year. In order to kind of keep this project separate and keep your existing TIF dollars and existing TIF revenue stream protected, we’re recommending just breaking this parcel out into its own TIF allocation area.”
He noted that the process is not over just yet and that the topic will be readdressed in future meetings.
Mouser explained, “This is kind of the first portion of the approval process, to amend your TIF area and then we would be back in front of you early next year to continue with bond approvals.”
The resolution approving the creation of a Common Collabs Allocation area was approved with a unanimous vote.
