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Wednesday, July 19, 2017

Planning Commission approves amendments to TIF Districts

The Prescott Planning Commission unanimously approved three amendments to the charters of the City of Prescott's three Tax-Incremental Financing (TIF) districts at their meeting Monday evening.

The first amendment allows for the financing of projects one-half mile within TIF District No. 4. The second allows for projects to be financed within a half-mile of TIF District No. 3 creating district #3 as a donor to TIF District No. 4. The TIF would only be able to donor if there are funds available to TIF District No. 3. The third amendment does the same for TIF District No. 5 in regards to TIF District No. 4.

All three amendments will be take n up by the Prescott City Council at its meeting next Monday, July 24.

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