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Process To Re-Establish Downtown Clinton TIF District Nearly Complete

The new downtown TIF District has all but been finalized.

Establishing, or in Clinton's case, re-establishing a TIF district is a very long and drawn out process. Clinton Mayor Carolyn Peters says recently they held public forums for business owners and residents in the new district to obtain information and ask question. She says those discussions included why businesses were on and why some were left off.

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There has also been some confusion that the TIF would cause a business or homeowners taxes to increase. The Mayor says that is not the case because the EAV is assessed by the County and they determine those values. She notes, this year, Clinton saw it's property values increase.

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Property values are set at the beginning of a certain period. Then after that period has expired, properties are re-assessed. The Mayor explains it is that difference in the values that goes into the TIF fund. If property values decrease, then no money is put into the TIF.

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Re-establishing this TIF district was very important for the development of the downtown and surrounding areas of Clinton. This fund is really the only source of revenue businesses can draw from to help development of their business.

The Mayor explains the fund is limited to businesses only. Residents in the TIF district unfortunately cannot draw from it.

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