Waterville considers downtown redevelopment district to promote economic development

Officials in Waterville are “considering establishing a downtown redevelopment district” that would function similar to a tax-increment financing district “to encourage economic development within its historic structures,” The Toledo Blade reports. Revenue from property taxes would be invested back into the district; the city would control the funds. Jon Gochenour, Waterville municipal administrator, said there are about 10 historic buildings in the city’s downtown area, and the “goal would be to encourage the owners of historic properties that aren’t in current use to invest in those buildings and stimulate economic growth,” according to the article. For more, read the full article.

Economic Development, Financial Incentives, State Updates