Fayette County

Council postpones vote on CentrePointe TIF district

After a lengthy discussion Tuesday, Urban County Council members decided to put off voting on an ordinance creating a tax increment financing district to include the CentrePointe development downtown.

Lexington Mayor Jim Newberry said the proposed ordinance was just a way to get the TIF process started, and the council would have at least three opportunities to add or subtract projects, but there was still reluctance.

Among the questions from council members: Which agency would administer the tax funds collected? What happens if projected revenue falls short?

Councilman George Myers said it was premature to adopt the ordinance. The ordinance will be brought back to the council work session at 3 p.m. Sept. 9 in council chambers at the Urban County Government Center, 200 East Main Street.

Beverly Fortune

Related stories from Lexington Herald Leader

  Comments