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Coffee County approves tax‑increment financing to back Summerlin development with Tullahoma
Summary
Commissioners approved an economic impact plan and a TIF agreement in partnership with the City of Tullahoma that developers say will fund public infrastructure for the Summerlin mixed‑use development; the commission voted 18‑0 to approve the plan.
The Coffee County Commission unanimously approved an economic impact plan and related tax‑increment financing (TIF) arrangement for the Summerlin mixed‑use development, voting 18‑0 to authorize the county's participation.
Winston Brooks, director of the Tullahoma Area Economic Development Corporation, told the commission the plan projects approximately $12.4 million in new tax revenue to the county over the life of the TIF and an estimated $1.5 million in annual property tax revenue to the county once the agreement ends and the property is fully on the tax rolls. Brooks said the county's reimbursement to the developer is capped at $18.4 million and…
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