The Redevelopment Authority will meet tonight to discuss TIF #5.
Not much seems to have been done since the celebration of the opening of the Eager building and in light of the variance between the official plan by Ehler and Associates with positive increment and the current situation, it is unclear whether with the flood plain modifications that may affect TIF 5 whether anything if anything will occur above and beyond some lunches discussing it. Maybe it might be just closed as a TIF since nothing is planned. If it was closed to avoid "moral hazard" the debt would be placed on the tax roles now for the current generation to pay rather than the grandkids.
Stay tuned.
Click on the post for the agenda.
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It doesn't really matter. If there is not much tax increment being generated, the city must use general fund money to pay the debt service now anyway.
ReplyDeleteBill Connors
Former Evansville City Administrator