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Bradley County reviews proposed tax increment financing policy for Industrial Development Board
Summary
County staff and bond counsel presented draft policies to govern use of tax increment financing (TIF) by the Industrial Development Board, outlining process safeguards, an 80/20 split ceiling for increment allocation, a recommended minimum project size and term limits; commissioners asked about risks and next steps.
Bradley County commissioners heard an extended presentation on proposed policies and procedures to govern tax increment financing (TIF) transactions that the Industrial Development Board (IDB) might pursue on behalf of the city and/or county.
An IDB-requested resolution and a packet of draft policies were presented to the commission by staff. The presenter said the draft is a process document that would establish how the IDB and local governments evaluate TIF applications rather than authorize any specific incentive.
Mark Mamantoff, a bond lawyer who described himself as experienced in local development financing, told the commission:…
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