Carnation Mall redevelopment moving forward with TIF approval from Alliance

Alliance City Council recently passed multiple ordinances to help the Carnation City Mall redevelopment project move forward, including a tax increment financing (TIF) program, The Alliance Review reports. Mayor Alan Andreani said, “[m]any people think TIFs are pure abatements, (but) what happens is that the entities still pay their taxes but they go to a service fund,” which will be set up by the county, according to the article. Council also approved an agreement with Meijer for that company’s plan to construct a nearly “160,000-square-foot store on 25 acres of the former mall site.” City officials “hope the redevelopment project will bring new activity to the mall property.” For more, read the full article

Economic Development, Financial Incentives, State Updates