Indianola City Council Approves Use of TIF Funds for Developments | KNIA KRLS Radio

The Indianola City Council approved administrative processes for several projects to move forward at its meeting Monday. Many of these will utilize a mix of commercial and residential housing, supplemented by the use of tax increment financing (TIF) from the city. City Manager Ben Reeves tells KNIA News that the city wants to make it clear that the use of TIF funds is not a handout or gift to developers, but simply a tool that takes advantage of growing economic areas as an incentive for developers to build.

“When a developer invests in a development, they gradually increase the value of that property. These increases can be used by the city to incentivize and remove barriers to entry so they can get in and make their investments. Check out Kentucky Ridge. The city had a sewer and storm sewer problem in this area that prevented any change to the area in terms of grading. So this was a great opportunity to work with this group to make these improvements. This allows the city to provide a discount and put money back into the project, allowing them to classify it and pursue major commercial development in our community.”

To listen to the full interview, click below.

https://www.kniakrls.com/2024/12/04/lets-talk-indianola-city-council-recap-92/