Thu September 13, 2007
Carthage TIF Agreement Near
Carthage, IL – The Carthage Tax Increment Financing District plans to reach a revenue-sharing agreement soon with its two school districts.
Mayor Jim Nightingale says the attorneys for the three groups will meet to finalize the agreement.
He says when the city formed the district, it wanted to make sure the schools were not unduly harmed.
Part of the district revenue will be shared with the elementary school district and the high school district.
Nightingale did not release percentages.
He says he wants to help the schools without harming the ability of the TIF districts to build the needed sewer and water improvements for development expected in the town.
The improvements include a senior housing project, a new hospital, and expected business development near where Route 336 passes near Carthage.
That area includes places for retail businesses and an industrial park.