Commission Approves TIF Financing

The Bowling Green City Commission approves the "Tax Increment Financing" District in a special session after making some changes to the project.

The item was pulled off last week's agenda so officials in Frankfort could give suggestions on the proposal.

One of the major changes is the subtraction of WKU's Van Meter Hall from receiving "TIF" money.

Officials felt it was unnecessary to leave Van Meter in the plans since state bonds will likely pay for its renovations.

The new Booth Fire and Safety location on State St. is being added to the "TIF" District.

The original Booth Fire and Safety was a part of Circus Square when the original proposal was drawn up.

But with it moving to State St., the project would have lost Booth's future revenues.

"All of their sales tax, all of their property tax, all of their occupational license tax would be counted against the "TIF," but their new revenues would not be," said Bowling Green Mayor Elaine Walker.

The commission will have a second reading and vote at next Tuesday's regularly scheduled meeting.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus