CRESTVIEW — Area planners and community leaders have been warming to the idea of establishing a tax increment financing district to fund needed local transportation projects.
The Crestview Area Chamber of Commerce Government Issues Committee will host a Dec. 2 panel discussion to consider the idea's feasibility. The workshop is open to the public.
A TIF, as the plan is known, "is neither the creation of, nor an increase in taxes," committee chairperson Muncelle Mitchell said.
Under a TIF, the property tax rate in effect when the plan is adopted is used as a base. The difference in any subsequent tax increases is applied to a specific project the TIF was established to fund.
Recently, a TIF has been suggested to finance widening the P.J. Adams Parkway and Antioch Road corridor to create a southwest bypass around Crestview.
A panel — including City Planner Eric Davis, former Supervisor of Elections Pat Hollarn, county Growth Management Director Elliot Kampert and Economic Development Council Vice President Kay Rasmussen — will discuss TIFs and their viability.
Chamber of Commerce President Dennis Mitchell will serve as moderator.
Want to go?
WHAT:Tax increment financing workshop
WHEN:5:15 p.m. Dec. 2
WHERE: Crestview Area Chamber of Commerce office, 1447 Commerce Drive
DETAILS: Public panel discussion exploring tax increment financing as a means to fund transportation projects. Light refreshments served.
Contact News Bulletin Staff Writer Brian Hughes at 850-682-6524 or email@example.com. Follow him on Twitter @cnbBrian.