Cass County Commissioners voted unanimously to expand the county’s tax increment financing district by about 7,000 acres to use as a source for funding more infrastructure projects meant to entice more businesses to the area.
The district was created in 2005 to consist of about 1,100 acres. Businesses like ADM Grain, The Andersons Clymers Ethanol plant and Essroc currently fall within the district.
The ordinance states the district will take on an extra 7,228 acres.
The district doesn’t currently have any homes, but the expansion will include the unincorporated community of Clymers, commissioners said.
In a tax increment financing, or TIF, district, tax revenues generated by new development can be used to pay for infrastructure or other improvements in that area.
Commissioners say that’s their motivation for passing the measure, as they hope to collect more funds for future infrastructure projects.
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http://pharostribune.com/local/x2040128233/Cass-commissioners-expand-TIF-district
