Marion City Officials Create New District to Generate Residential Growth

City officials in Marion are trying a new tactic in the ongoing process to improve and regenerate residential areas located on the southeast section of town. On Monday city officials gave their approval to the first Residential Tax increment financing (TIF) district as another tool to move forward. Officials say their number one goal is to assist folks who own their own home and the city currently has close to 14 TIF districts on the books, but those have had a focal point of commercial improvements. Officials are now working towards this idea with residential neighborhoods. The new TIF District covers older and under-developed areas of the city to assist generate growth within city limits. Officials say he increment that is created from those new developments will be put back into in to some of the city’s older neighborhoods through grants and low interest loans.

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