A new deal for two West Carrollton tax increment financing districts has been approved.
West Carrollton City Council this week gave its approval for new agreements for compensation for two TIFs with the West Carrollton City Schools and Miami Valley Career Technology Center.
The school district and career technology center both approved the compensation agreement earlier in the month for the TIFs, first created in 2007.
A TIF is an economic development mechanism generally used to finance public infrastructure improvements. Tax dollars from the increased improvement value are directed towards a separate fund, most often used to finance the construction of infrastructure.
The new agreement also expands the boundaries of the original TIFs – which involves land around Interstate 75’s Exit