Owensboro TIF Hearing
By: Import User
Updated: August 29, 2007
Growth or sprawl? Owensboro is hinging its economic future on a massive new tax funded development. A public private partnership that would make it all possible has proven very continuous. But the city is going ahead with plans to make the deal happen.
The development will be on the citys far east side, and supporters hope the state signs off on a deal that will let them channel 80 percent of the tax revenue generated there back into paying off the construction costs. To some, it looks like free money, but the project does not have universal appeal. Approval is just the first step in a series of hoops developers have to jump through. The TIF has to be applied for and approved by the state. There has to be a feasibility study, and bonds have to be sold. The project could conceivably falter at any of those stages.
