TIF District #1
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| Approximately 20+ years ago the City created an Industrial Development Authority to spur economic development in the City. Over the next few years, under new State Statutes geared towards economic development for Cities, this Authority grew into what is now known as the Tax Increment Financing Commission. In 1989, the City’s first Tax Increment Financing (TIF) District #1 was created. The City’s first TIF Project became a reality in 1991 with the groundbreaking of the I-170 Industrial Center at the North-East corner of St. Charles Rock Road and I-170. The second TIF Project came in the form of a 90 bed, skilled nursing facility located at the North-West corner of St. Charles Rock Road and Brown Road, known as St. John’s Place. Through the years TIF District #1 has been broken down into 7 separate project sites in preparation for future projects and to allow for the individual tracking of the project sites. The district itself was also modified to accommodate the creation of a second district, TIF District #2. |
