By Carrie Lynch
Holt Journal staff reporter
Director of Community Development Tracy Miller proposed an idea to extend TIF plans from 2024 to 2036 for the future development of Holt.
The Downtown Development Authority Board of Delhi Township proposed this idea at the board meeting on Tuesday, Sept. 29. in order to get the city of Holt more economically stable as well as a close knit community. Tax Increment Financing, or TIF, is a tool for local governments to help restore a rundown area of a community or help revive the economically sluggish parts a city. When a city establishes a TIF, excess tax money gets redirected towards the reconstruction of whatever the city is in need of. As a town develops, the tax revenue increases, leaving more money for future development.