Farmington Businesses And City Officials Learn About TIF District

(Farmington, IL) -- Businesses in Farmington were able to learn more about the Tax Increment Financing or TIF District that was established by the Farmington City Council earlier this year. The city council approved the new TIF District at a council meeting held on May 5th. A Farmington TIF District Workshop was held last month on Thursday, July 24th where it was explained to city officials and businesses could do in Farmington. Those attending found out that the TIF District with its funding could encourage private investors to locate their business in Farmington through funding of private projects that are eligible. Any businesses or private investors who would like to receive TIF funding needs to submit a developer application form to the Farmington City Council.