Georgetown hears from TIF consultant

Georgetown hears from TIF consultant

GEORGETOWN — City officials heard a presentation outlining a financial incentive that might attract retailers to Georgetown.

Keith Moran, president of Moran Economic Development of Edwardsville, said that establishing tax-increment financing districts could help draw businesses.

If implemented, the majority of property taxes generated by the district would be used within that area to pay for rehabilitating or demolishing properties, or for improving infrastructure.

Mayor Kay Sanders said the city was approached by Dollar General about building a store on the lot along Illinois 1 where the former Frazier Elementary School stands. Sanders said the store owners want to build in a TIF district, and suggested that she contact Moran to discuss it.

Sanders said she was not sure whether council members would want to establish a special taxing district, and that she was glad that they and the city attorney were able to hear Moran's presentation themselves.

Sections (2):News, Local

Comments

News-Gazette.com embraces discussion of both community and world issues. We welcome you to contribute your ideas, opinions and comments, but we ask that you avoid personal attacks, vulgarity and hate speech. We reserve the right to remove any comment at our discretion, and we will block repeat offenders' accounts. To post comments, you must first be a registered user, and your username will appear with any comment you post. Happy posting.

Login or register to post comments