Downtown Development Authority Approved

Posted in
(Photo by Ron Richter)
(Photo by Ron Richter)

The Sheridan City Council Monday night approved the establishment of a Downtown Development Authority on first reading. Downtown Sheridan Association Board Member John Smith on the benefits of a D-D-A.

The funding mechanism that will most likely be utilized by the development authority is tax increment financing, or TIF, which is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community improvement projects. The council will have to approve the ordinance two more times before it takes effect.

view counter

Send us a News Tip!

Have a news tip?
Use our anonymous form to let us know.