Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Commission approves Pratt & Whitney TIF reimbursement of $240,768 from airport TIF fund
Summary
Harrison County commissioners approved a 2025 tax-increment financing reimbursement request from Pratt & Whitney for personal property taxes tied to a 2020 agreement; the payment will come from the airport TIF fund (fund 6).
Harrison County Commission on Sept. 17 approved a tax-increment financing (TIF) reimbursement request from Pratt & Whitney linked to a March 4, 2020 agreement covering personal property taxes on an 800-series engine.
County staff said the annual reimbursement request is routine under the 2020 agreement. Commissioner Trecost moved to approve the request; county administration corrected the amount on the record to $240,768, stating that the airport’s TIF receipts held in a special fund (fund 6) would be used to reimburse Pratt & Whitney rather than routing the money to the airport’s operations.
Laura, the county administrator, explained that the airport agreed in the TIF arrangement to redirect its TIF receipts for this reimbursement. Commissioners voted to approve the $240,768 reimbursement with no recorded opposition.
Ending: County staff will process the reimbursement from the airport TIF special fund (fund 6) and record the payment per the terms of the TIF district agreement.
