Tax Increment Financing is a mechanism which allows a municipality to create districts in development areas showing evidence of deteriorating property values, and then capture taxes generated from new capital investment within those districts. The captured taxes are used to finance public improvements to the district, including infrastructure improvements such as roads, water, sewer and site development.
The Tax Increment Finance Authority (TIFA) is the Board charged with the responsibility for developing long-range plans designed to halt the decline of property values and to promote the growth of the development areas and to implement those plans. The Authority meets on the second Tuesday of each month. If you are interesting in serving on the Tax Increment Finance Authority, please contact our Clerk's Office and apply.
Tax Increment Finance Authority Members:
Patrick Hassett, Chairperson
David Molnar, Vice Chairperson
Steve Goodhall, Secretary
Carlene Nolan Pederson
Dr. Patricia Dolly