A new state requirement calls for Redevelopment Commissions throughout the state to provide an annual snapshot of TIF Districts for the overlapping taxing units. The overlapping taxing units may be county government, schools, or other facilities that are affected by TIF Funds. The Plymouth RDC presented the report to those entities Tuesday night.
Plymouth City Attorney Sean Surrisi presented all of the information that covers the U.S. 30/Oak Road Economic Development Area, East Jefferson/Central Business District Economic Development Area, U.S. 30/Pine Road Economic Development Area, South Gateway/Western Downtown Economic Development Area, the Winona Building Products Economic Development Area, and the Plymouth-Goshen Trail Economic Development Area.
Those areas benefit with TIF funds for various construction or infrastructure projects or other environment or façade projects that benefit the area.
TIF funds are determined by the incremental assessed valuation multiplied by the tax rate.
The information is available for public viewing, if residents are interested.
