FORT WAYNE, Ind. (WOWO): Mayor Tom Henry's proposal to create a tax increment financing, or TIF, district in the south side of Fort Wayne has passed its first hurdle.
The Fort Wayne Redevelopment Commission gave the plan their stamp of approval Monday night. The Journal Gazette reports that the TIF will be used as a development incentive in and around the Quimby Village area, where any new property taxes generated within the district can only be used for improvements there.
The proposal still needs to get past the City's Plan Commission and the City Council.