The Knox City Council will meet tonight where the council will hear reports from Clerk-Treasurer Cyndi Mann-Kidder and Mayor Dennis Estok.
The council will meet at 6 p.m. CT tonight at the Knox City Hall at 101 W. Washington Street.
During the council’s last meeting, the members approved a resolution that consolidates and expands the Knox Industrial Park Economic Development Area and the Knox Redevelopment Area, and creates a new Single-Family Housing Allocation Area. The resolution also authorizes the removal of original allocation areas by removing certain negative parcels.
Greg Balsano from Baker Tilly explained that this would take effect for taxes payable in 2025.
The Single-Family Housing Allocation Area is in the area of Sunnyside Drive where the second phase of the subdivision will be in the residential TIF. This is in anticipation of residential growth.
The combination of the development areas will allow the city to use the TIF money for the construction of road infrastructure, utility infrastructure and sidewalks and other related improvements and equipment needed to support a proposed housing development in the allocation area. The city will be repaid funds when homes are constructed in the area.
The resolution was unanimously approved.
