<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3Ym98I_1GtZBqgF00" alt="https://img.particlenews.com/image.php?url=3Ym98I_1GtZBqgF00" width="1600" height="900" ><figcaption>From City of Mobile (From City of Mobile)</figcaption></figure>MOBILE, Ala. (WALA) - Mobile Mayor Spiro Cheriogotis posted in his regular e-mail on Wednesday, November 4, Good Evening Mobile, his thoughts on why Tax Increment Financing Districts, or TIF’s, are beneficial.Here is part of the post: You all may have heard the term TIF lately. Let me explain what it is, what it does, and also what it doesn’t do. A Tax Increment Financing District is a specific area of the city where a portion of local property tax revenue — known as the increment — is reinvested into projects in that specific area to help clear blight, improve infrastructure, and encourage private investment.Downtown Mobile has had a TIF District since 1993 and you can see the results. With a new state law allowing more of the city to be considered as part of TIFs, this gives us a clear tool we can use to bring that same kind of investment to more neighbors and communities. To be clear, this is not a tax increase but would allow for the capture of additional revenue from increases in property value in a specific area to be reinvested.We are working to establish three new TIF districts — one along the waterfront, one along the I-65 corridor and Midtown, and one in Tillman’s Corner. These districts will improve neighborhoods, spur development and help us continue our efforts to rebuild infrastructure. In the coming weeks, the Mobile City Council will set a public hearing to discuss these proposals, and once that happens, we look forward to working with the Mobile County Commission and the Mobile County Board of School Commissioners on plans for the districts that will benefit all of us.</div></body>

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MOBILE, Ala. (WALA) - Mobile Mayor Spiro Cheriogotis posted in his regular e-mail on Wednesday, November 4, Good Evening Mobile, his thoughts on why Tax Increment Financing Districts, or TIF’s, are beneficial. Here is part of the post:. You all may have heard the term TIF lately. Let me...

Mobile Mayor: TIF districts will improve neighborhoods

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MOBILE, Ala. (WALA) - Mobile Mayor Spiro Cheriogotis posted in his regular e-mail on Wednesday, November 4, Good Evening Mobile, his thoughts on why Tax In

Mobile Mayor: TIF districts will improve neighborhoods

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