The Vandalia City Council approved two new Tax Increment Finance agreements at its meeting Monday night. The council first approved a TIF agreement with Radliff Properties, LLC in the amount of $34,887.64 for renovation work on the building located at 324 West Gallatin Street. The building will house a restaurant upon its completion and included in the TIF agreement is a deadline of 6 months for the work to be completed. The second TIF agreement approved is with Barenfanger, Inc. in the amount of $10,528.50 for renovation work on the building located at 129 N. Kennedy Boulevard. Work will include roof repairs and soffit and fascia work.
Later in the meeting, Mayor Rick Gottman did address that after the next council meeting, there would be a temporary freeze on TIF agreements until after a meeting with a consultant that will be down to meet with council members and others about TIF and be able to answer questions and give any information the city is seeking on TIF agreements.