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 Number 1 was created.
Projects
The City's first TIF Project became a reality in 1991 with the groundbreaking of the I-170 Industrial Center at the northeast 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 northwest corner of St. Charles Rock Road and Brown Road, known as St. John's Place.