Newly Created District

[bigboyz05]

New streets to be built to aide future growth in the newly created TIF or Tax Increment Financing District. This district allows the the city to freeze taxes exactly where they are right now. Here's the link: http://www.texarkanagazette.com/articles/2...news/news20.txt

[mcheiss]

Good to see that this TIF is actually for the betterment of the community and not for the purposes of creating greedy profits.

[bigboyz05]

Good to see that this TIF is actually for the betterment of the community and not for the purposes of creating greedy profits.

Yes. Do any cities in NWA have a similar district?

[mcheiss]

One was passed in Fayetteville for the Renassaince Development, which is suppose to be an 18 Floor mixed use tower in downtown Fayetteville. Rogers passed one that included land from South Rogers all the way to north Rogers along the interstate. Currently, funding was cut short b/c of an attorney general's decision to not allow for school taxes to be included, so it was pretty much scrapped. Bentonville is wanting to pass one along Airport Blvd for the Arkansas Sports & Entertainment Complex in an effort to attract a WNBA team. Lowell is also wanting to pass one in an effort to get a large downtown development that would be visible from I-540.

[bigboyz05]

Wow! That's cool. Sounds like a lot of exciting projects. I hope something of the calibur of developments you just posted comes here.

[dimebag1980]

TIF districts are very common today, but they're rarely used for the good of the entire community. In this case, I'm with Matt in saying that it seems to be going for need rather than greed.

[bigboyz05]

Yeah, that's really cool.