Christian Fiscal Court will hold a public meeting at 8 O’clock Tuesday morning regarding a proposed tax incentive for the developers of the Oak Grove Village.
County government is considering joining the state and City of Oak Grove in offering a tax increment financing plan to the developers of the multi-million dollar proposed development.
The “TIF,” as it’s often called, would refund 80-percent of increased property tax revenue that would have went to the county back to the developer to pay for infrastructure for the next 20 years. It would not refund tax dollars that go to schools, the health department or to the extension office.
Judge-Executive Steve Tribble says the public meeting is a requirement for such a measure to ever receive a final vote.
Now that the state and city have already given their blessing to “TIF” measures, Judge Tribble hopes such action by the county would allow the proposed mall and other developments to go forward.
If the proposed project were to somehow fall through, the county would not be out any money under a “TIF” because it would still receive taxes on the land at its current rate as mostly agriculture territory.
That meeting is at 8am in the upstairs of the Christian County Courthouse.