EDC hears about TIF during monthly meeting–also went over some point/counterpoint discussions about the program and some myths

The Vandalia Economic Development Commission heard about Tax Increment Finance Districts during their monthly meeting this week.

TIF Consultant Adam Stroud spoke about TIF programs and also gave some point-counterpoint discussions.  There was also some talk about knocking down some long term myths.  Vandalia Mayor Doug Knebel says one of those untrue beliefs is that TIF raises taxes.

Currently, the City of Vandalia has two TIF districts with renewal work currently ongoing on TIF 2.  The City of Vandalia is also considering the possibility of a residential TIF District.  We will hear more on TIF coming up on Monday.