Local

Downtown TIF Balance Low
Downtown TIF Balance Low

The Springfield City Council continues to approve TIF projects even though the Downtown TIF District is running out of money.  Springfield Mayor Mike Houston says some projects will not be reimbursed under the program even though the City Council continues to approve new projects for the Downtown TIF District.

Houston says “given the committments the city has made….we are basically in a negative position”.

Houston adds the city is changing contract language to protect itself from claims from developers.  The Downtown District is set to expire in 2016.  Houston says aldermen are sometimes overriding his veto of projects even though the TIF balance is running low.