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Council adopts Jefferson South TIF district to fund local infrastructure
Summary
The Defiance City Council voted unanimously June 10 to adopt an ordinance creating the Jefferson South tax increment financing district to capture a portion of future assessed-value growth for local public improvements.
Defiance City Council voted unanimously Tuesday to adopt an ordinance creating the Jefferson South tax increment financing (TIF) incentive district on South Jefferson Avenue. The measure exempts 75% of future assessed-value increases on three parcels for 10 years and directs that incremental revenue into a municipal improvement fund to pay for infrastructure and nearby parks and recreational improvements.
The ordinance was read into the record by Catherine Olney.…
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