“The program is operating the way it should and those dollars are moving and are providing real value to the community,” Cherry told commissioners.
When each TIF District was created, a base tax value was established for properties in the district. As property taxes go up, the increase from the base value is eligible for use as TIF funds.
Tax increment provided by the Missoula Redevelopment Agency has helped, as has funding from various state and federal housing programs
With the TIF funds, the rehabilitation work is expected to begin this summer and be completed by the fall.
City Commissioners will consider a request for up to $30,000 in downtown tax increment financing funds toward the development of an economic vitality transformation strategy
All of the work was performed by local contractors, contributing to Central Montana economic resiliency and improvements like this are bound to encourage additional investment
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