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Defiance holds public hearing on proposed TIF district covering three parcels, parks improvements discussed
Summary
At a May 6 Defiance City Council meeting, staff opened a public hearing on a proposed tax increment financing (TIF) incentive district for three parcels owned by Jefferson South Holdings LLC. Council described a proposed 75% TIF capture for 10 years to fund infrastructure and park improvements near the site; no ordinance was adopted tonight.
City officials held a public hearing Tuesday on a proposed tax increment financing incentive district for three parcels owned by Jefferson South Holdings LLC, with staff saying the district would fund roadway, utility and nearby parks improvements.
The hearing matters because council staff said the city intends to pursue capturing 75% of the increased taxable value on the parcels for 10 years to pay for public infrastructure and park work near the site.
Mister Bridal, a city staff member, described the TIF proposal as applying to…
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