TIF could facilitate PJ Adams/Antioch corridor without tax raise

Published: Wednesday, December 4, 2013 at 01:00 PM.

At local attorney Mike Chesser's urging, Davis and other officials began looking into the TIF concept as a means of raising local matching dollars to attract federal and state road money.

"If the TIF can grow to $40 or $50 million, then we can come to the table for the next grant the federal government has and we can say, 'Come on: We have the plans, we have the land — give us the money,'" Davis said.

The proposed traffic corridor project would include widening P.J. Adams and Antioch to four lanes from State Road 85 to U.S. Highway 90.

A recently state-approved alternative route would branch off at Arena Road for northeast-bound traffic, allowing west-bound traffic to Holt and Baker to follow the existing route.

Ready in a year

The project's expected cost is $120 million. A University of West Florida Haas Business Center study shows a TIF could raise $47 million in matching funds in 20 years.

Construction could actually begin well before the TIF expires, using its future funds as collateral to raise bonds to finance the corridor.

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