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Aldermen approve waiver to let non-sales business relocate into 110 Smithville TIF
Summary
The Smithville Board of Aldermen approved a letter waiving redevelopment-agreement restrictions so an office tenant that does not generate sales tax can occupy space in the 110 Smithville tax-increment financing area. City attorney and development counsel said the change does not increase the developer's maximum reimbursement.
A majority of the Smithville Board of Aldermen voted to approve a letter granting a waiver of redevelopment-agreement provisions so that a non–sales-tax business may relocate into the 110 Smithville tax-increment financing (TIF) district.
The waiver, presented by Megan Miller, an attorney with Gilmore and Bell serving as the city’s economic development counsel, was approved by voice vote after a brief discussion and a public comment expressing concern. "I see on the agenda tonight that you're talking about it, and I'm just hoping that you're not voting on it because to me, it sounds like $1,454,000... is a lot…
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