How will TIFs improve Fairmont?

TIFs create short and long term benefits for communities. TIF benefits include (to name a few):

  • Encourage industrial and commercial activity
  • Help in the continued efforts to eliminate blight and clean up our City
  • Improvements to the pedestrian connection in the City of Fairmont, including the completion of the Rail Trail connection
  • Increased property values
  • Stabilize infrastructure
  • Stimulates investment outside TIF district boundaries
  • Stronger economic base
  • Stronger, broader tax base
  • Support continued development of the Palatine Park area
  • Support economic development

Show All Answers

1. What is Tax Increment Financing?
2. What is a “tax increment”?
3. How will TIFs improve Fairmont?
4. Why is there a need for Tax Increment Financing?
5. Does TIF divert money from schools?
6. How does TIF affect property owners or homeowners in or near the TIF District?
7. Does TIF result in increased tax rates?