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Council approves $50,000 TIF grant for downtown redevelopment project
Summary
The council approved a one-time $50,000 TIF grant for Tony Delgado’s South Guinea property: $25,000 would reimburse the city for the property purchase and $25,000 would fund improvements once the building is erected; contractor DC Meadows expected on site Dec. 1.
The Mount Carmel City Council approved a one-time $50,000 tax-increment financing (TIF) grant for a downtown redevelopment project proposed by Tony Delgado.
Mister Turner (speaker 2) said Delgado purchased the South Guinea property for $25,000 and Moran recommended a $50,000 TIF grant from TIF 6. Turner explained the proposed disbursement:…
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