TIFs for two Hillsboro development projects will generate revenue for the city

A new dental office and an Orscheln Farm and Home store under construction in Hillsboro “will bring revenue back into the area for infrastructure improvements through Tax Increment Financing [TIF],” The Times-Gazette reports. Hillsboro Safety and Service Director Mel McKenzie said “he is organizing TIF designation for the two properties” and that the TIFs “will be a good source of income for the city over the next 10 years,” according to the article. McKenzie said the dental office and Orscheln properties are expected to generate approximately $83,000 and $260,000 in new property taxes respectively over the next ten years, with 75 percent of that income to be used for public improvements that “could include roadwork, water and sewer line replacement, storm water collection and new sidewalks.” For more, read the full article

Financial Incentives, Regional Updates, State Updates