Two resolutions related to Tax Increment Financing (TIF) redevelopment areas will be up for approval during tonight’s Knox City Council meeting.Continue reading
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.Continue reading
As the Treasurer of the Knox Redevelopment Commission, Jeff Houston is required to submit an annual update to the fiscal body regarding the commission and the City’s Tax Increment Financing (TIF) Districts prior to April 1st each year.
When Knox City Council members met last Tuesday on March 27th, Houston reported the city has two TIF Districts; the Original TIF and the Industrial Park TIF.
He explained that in 2017, the original TIF fund received about $101,363 in revenue and nearly $36,979 was paid out in expenses. On the other hand, the revenue received in the Industrial Park TIF District remained the same as no expenses were paid out, according to Houston. Continue reading