Freeport, Illinois — The city announced that meeting for the Southside TIF Task Force has been rescheduled from December 6, 2016 to December 13, 2016.
The meeting scheduled on December 6, 2016 has been canceled.
Tax increment financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects. Freeport is one of many cities that have TIF districts.
Through the use of TIF, municipalities typically divert future property tax revenue increases from a defined area or district toward an economic development project or public improvement project in the community.
Since these are public funds, you have the option (right) to show up whenever meetings to discuss TIF or TIF related projects are held.
Tuesday’s meeting will be held at the NIDA offices at 27 W. Stephenson Street and will take place from 3:00 until 4:30.
NIDA is a not-for-profit economic development corporation focused on retaining and expanding business, and diversifying the economic base of the City of Freeport, Stephenson County and northwest Illinois.
NIDA is funded by the City of Freeport, the County and by Private investors.
On the agenda for Tuesday’s meeting;
- Update on Current TIF Activity
- Discuss Near Term Opportunities
III. Agreement on Standard Meeting Date / Time