Yankton Area Progressive Growth has taken the lead in developing affordable housing for expected growth in large employers in the area.
Their housing committee is working on a plan that would use a tract of land for apartments and single family homes.
As part of that plan, tax increment financing, or a TIF district has been discussed.
Yankton City Manager Amy Nelson says they will consider any TIF proposal that is brought to them…
A TIF district uses the property taxes that would normally go to the city and county, and instead use them to pay for the street and utility improvements in that area.
Nelson says a TIF has to be for a good use…
Nelson says there is some misinformation out there about TIF financing…
YAPG has not yet finalized any land deal for a housing development.
