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Decatur TIRZ board recommends final project and finance plan for Reinvestment Zone No. 1 to city council
Summary
The City of Decatur TIRZ board voted to recommend the final project and finance plan for Reinvestment Zone Number 1 to city council, endorsing use of tax-increment funds for public infrastructure and allowing for soft-costs tied to city services.
The City of Decatur Tax Increment Reinvestment Zone (TIRZ) board voted to recommend that the City Council approve the final project and finance plan for Reinvestment Zone Number 1, with language acknowledging how “soft costs” tied to city services could be included in the plan.
The recommendation, made during the board’s first meeting on the TIRZ, directs the council to consider an ordinance at its next meeting to adopt the plan. “This is not a new tax,” city presenter Nate said, explaining that the TIRZ captures a portion of future ad valorem growth rather than creating an additional tax rate.
Board members and staff framed the zone as a financing tool to support public improvements such as roads, water and sewer lines, sidewalks and downtown…
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