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Effingham focus group hears support and trade-offs for using TIFs and business-district funds to attract private development
Summary
City staff explained TIF districts, business-district sales taxes, enterprise zones and prevailing-wage implications at an Effingham focus group; attendees broadly supported using public tools to spur local business growth but raised concerns about long-term revenue and distribution to other taxing bodies.
Effingham residents, business leaders and city staff spent a large portion of a community focus group reviewing the trade-offs of committing public money to private development and the tools the city can use.
City staff explained three common tools: tax-increment financing (TIF) districts, business-district sales-tax increments and enterprise-zone abatements. "The TIF District money comes from the increment on the improvement to properties in that district," a city staff member said, describing how added property value within the district generates funds for infrastructure…
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