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Council schedules Jan. 16 public hearing on TIF ordinances and proposed London Gateway New Community Authority
Summary
Council members read four related ordinances and a resolution creating tax-increment financing districts and a proposed New Community Authority; a public hearing is set for Jan. 16 and councilors agreed to hold further review and outside counsel input before final action.
City leaders read four related ordinances and one resolution that would create multiple tax-increment financing (TIF) incentive districts and begin the process to form a New Community Authority for the London Gateway project, and scheduled a public hearing on the package for Jan. 16, 2025.
Ordinance 20724 would create 19 incentive districts and declare improvements in those districts a public purpose, require property owners to make service payments in lieu of taxes, establish a tax-increment…
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