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Last updated on Thursday, April 19, 2012
(BEDFORD) - The Redevelopment Commission approved the payment of two invoices for Barnes & Thornburger for $618 and $2,952 for an impact study of the city’s third tax increment financing district on the city’s northeast side which includes General Motors, the railroad industrial loop near GM, and the Community Learning Center, currently housing students attending Oakland City University and Ivy Tech.
A TIF is a tool governments employ to generate property tax revenue to be used for improvements and development within a designated area.
"A TIF is one of the few tools a city has available to capture revenue to undertake projects that will improve the economic vitality of the community," said Mayor Shawna Girgis.
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