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Kokomo council approves $11 million in TIF bonds for Pleasant Brook project
Summary
On second reading, the Kokomo City Council approved Ordinance 7204 to authorize $11 million in taxable economic development tax-increment revenue bonds to help finance the $26 million Pleasant Brook project; the council recorded the passage by voice vote and council members said the city will not be liable for repayment.
The Kokomo City Council on second reading approved Ordinance 7204 to authorize the issuance of taxable economic development tax-increment revenue (TIF) bonds, Series 2025, to finance part of the Pleasant Brook project. Councilman McGreeky moved for passage and a second was recorded; the ordinance passed by voice vote. The ordinance authorizes up to…
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