- Published: Tuesday, 26 July 2016 10:10
The Fort Wayne Redevelopment Commission is proposing that City Council rescind three TIF districts (officially known as Economic Development Areas) and create one Riverfront-Columbia TIF district. The proposals will be introduced to City Council this evening.
The three areas to be rescinded include the Washington Center Coldwater Road district, the Moeller Meyer Road district and the Baker Street district. TIF, or tax increment financing, districts are set up to assist in the development of a designated area. They allow any new property tax revenue generated by increases in assessed value within that area to be used for public infrastructure projects.