The City established an Industrial Development Authority to boost economic development. Over time, and with the support of new State Statutes aimed at fostering urban growth, this Authority evolved into what is now known as the Tax Increment Financing (TIF) Commission. In 1989, the City created its first Tax Increment Financing (TIF) District, known as TIF District Number 1, marking the beginning of a focused effort to stimulate economic growth and development within the City.

Projects

The City’s first TIF Project became a reality in 1991 with the groundbreaking of the I-170 Industrial Center at the northeast corner of St. Charles Rock Road and I-170.

Future Projects

Through the years TIF District Number 1 has been broken down into 7 separate project sites in preparation for future projects and to allow for the individual tracking of the project sites. The district itself was also modified to expand and accommodate the creation of a second district, TIF District Number 2.

The second TIF Project came in the form of a 90 bed, skilled nursing facility located at the northwest corner of St. Charles Rock Road and Brown Road, known as St. John’s Place.