Carbondale officials are looking into expanding several TIF districts near residential areas. City Manager Gary Williams says TIF districts encourage home or businesses owners to make improvements on their property, while at the same time, keeping a handle on property taxes.
"What TIF does is it captures that increase in your property taxes, and it reimburses you, to cover the costs of your investment."
Economic Development Director Steven Mitchell says since so much of the city's housing stock is un-occupied rental units, the expansion of TIF districts could improve those areas.
"Try to use, some of these TIF funds that are generated to incentivize, owner-occupied homes, people to come in, buy rental properties, re-develop and re-invest in them."
The areas being considered are, downtown from Willow street to Grand Avenue, the Arbor District, the area near the hospital and on the city's Northeast side from Washington Street to Marion street.
The city is accepting bids for a consultant, to help determine the feasibility of the project. To learn more, go to Explore Carbondale DOT com.
