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Board hears city plans to alter TIF districts; superintendent warns of possible financial impacts
Summary
Mount Vernon city plans to let the downtown TIF expire, extend two existing TIF districts and create two new districts near North 42nd and North 44th Streets. Superintendent Ryan Swan told the board these changes could have future financial implications for the school district.
Superintendent Ryan Swan updated the board on proposed changes to local Tax Increment Financing (TIF) districts: the City of Mount Vernon intends to allow the downtown TIF to expire, extend the I-64/57 district and the industrial park district, and consider two new districts near North 42nd and North 44th Streets. Swan cautioned there may be potential board decisions in the future that could carry financial impact for the district.
Board members did not take immediate action but were informed of the city’s planning. The minutes note the update under Old Business and treat the item as a potential future budget consideration for district leadership.
