Over the past few months one common topic during the Desloge Board of Aldermen meetings had been the upcoming closing of the TIF (Tax Increment Financing) district in the city.
The TIF District was originally opened in April of 1997 and closed in December of 2019.
Generally, TIF districts are opened to help to pay for infrastructure and other improvements.
A certain area of the city (which will be known as the TIF district) is designated by the local government. This area is generally a part of the city that the city wants to target for redevelopment. The TIF district is administered by local governments and authorized at the state level.
The Desloge TIF district has run its course and served its purpose, officials say.
According to City Administrator Dan Bryan, the TIF district covered property along State Street from Orchard Street to the south, then to the west side of U.S. 67, to just north of Pride Drive to the north and along Desloge Drive just beyond Dollar General (approximately 257 acres).
You have free articles remaining.
In the beginning, the city’s administration's desire was to help reduce blighted properties or blighted conditions, enhance under-utilized properties, develop new commercial opportunities and economic activity in the city.
Bryan said the board agreed the TIF District has been successful.
“The aldermen agreed the district has accomplished what it was intended to do, and it is always nice to see positive results on projects and enhancements for your city,” said Bryan.
During the duration of the TIF district, North County School District has received an annual amount of money produced from the TIF district.
Bryan said annual money produced by the TIF was split among entities such as North County, St. Francois County and the St. Francois County Ambulance District.
Bryan added that another TIF District may be explored in the future, but that will be a decision for the Desloge Board of Aldermen down the road.