Draft Redevelopment Plan Released

When creating a new Tax Increment Finance (TIF) District, the City is required to develop a comprehensive redevelopment plan. This plan must identify and document the specific blighting factors that qualify the area for TIF designation. Additionally, the plan should include a detailed strategy for the allocation and use of TIF revenues over the lifespan of the district. This strategy should address how the funds will be used to stimulate economic development, improve infrastructure, and address the identified blighting conditions.

The redevelopment plan is subject to review and must be formally adopted by the City Council as part of the final approval process. This adoption ensures a clear and accountable framework for how the TIF District will operate and achieve its redevelopment goals.

View the DRAFT Springfield and Mattis TIF Redevelopment Plan