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SNYDER RESTORES TAX INCREMENT FINANCING AUTHORITY TO HELP WITH DREDGING

BRYAN TERRY

Sat, 11 May 2013 02:16:39 EDT

 


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IN AN ATTEMPT TO AID COMMUNITIES IN NEED OF DREDGING WORK AT HARBORS AND MARINAS GOVERNOR RICK SNYDER HAS SIGNED LEGISLATION TO RESTORE THE TAX INCREMENT FINANCING AUTHORITY.       THE TAX INCREMENT FINANCING USES TAX REVENUES FROM SMALL INCREASES IN PROPERTY VALUES WITHIN DISTRICTS TO FINANCE PUBLIC IMPROVEMENT PROJECTS LIKE DREDGING WORK OR BUILDING BREAKWALLS.    THE TAX INCREMENT FINANCING AUTHORITY WHICH PREVIOUSLY EXPIRED IN 2011 ALSO CATEGORIZES HARBORS AND TRIBUTARIES AS POTENTIAL WATER IMPROVEMENT DISTRICTS.
   

 

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