TIF Funding Approved With Conditions

It looks like the the city will be funding the controversial Centrepointe Project with tax dollars after all.

Thursday night, Lexington's Urban County Council voted to move forward with a Tax Increment Financing Project or TIF related to the $250 million complex on West Main Street.

The council agreed to the project after the developers agreed to pay $50,000 for analysis required to get TIF funding from the state.

Tax Increment Financing allows state and local governments to fund public improvement projects and pay them back with the increased tax revenues that the development generates.

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