CPS Board of Education talks about TIF

At the Columbia Public Schools Board of Education meeting today, Vice President Tom Rose spoke to other board members about tax-increment financing.

It was mostly an informational presentation where he explained how TIF works and talked about both projects that have applied for the downtown tax break.

Even though it potentially shifts property taxes away from Columbia Public Schools, Rose said he was excited about the projects.

“It seems like an exciting venture that would improve our downtown economy,” he said.

Rose said he hopes to garner more community support in light of losing some of the property taxes.

“I’m not afraid to say that (tax levies) are something we’ll have to look into in the next two years,” he said.

To get approved for tax-increment financing, the developers must prove they could not afford the project without the tax break.

Rose sits on the city’s Tax Increment Financing Commission, who were appointed to review the projects before they go before City Council.

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