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Council leaves multiple tax-increment financing ordinances for public hearing, schedules New Community Authority hearing Jan. 16
Summary
The council left on the agenda several ordinances that would create 19 incentive districts and enable tax-increment financing (TIF) and scheduled public hearings on the package and a petition to establish the London Gateway New Community Authority, citing required readings and the need for outside counsel review.
The London City Council left multiple ordinances related to a proposed tax-increment financing (TIF) plan and a petition to form the London Gateway New Community Authority on the agenda and scheduled public hearings rather than taking final action.
At third reading, the council reviewed ordinance 20724, which the clerk read by title as proposing creation of 19 incentive districts, declaring improvements within those districts to be a public purpose and authorizing service payments in lieu of taxes and a TIF…
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