By Julie D’Aloiso
Some communities are lacking in growth. Not Macedonia. There are several new construction projects around town that are popping up here and there. The City of Macedonia is getting creative with their tax financing. The council voted at the May 11th meeting (see video here) to place a TIF on as many new construction projects as they can. A TIF is Tax Increment Financing. For more information read here.
When a TIF is placed over a property, 20% of the counties portion of the real estate tax dollars come to Macedonia. These funds will be deposited into a special fund that will be used for improvements in and around the property. Three TIF’s has been approved for the following new construction projects: The Avenue on Valley View (across from Park Avenue), Unity Health Network building at Alexandria Square (next to the Goddard School), and the Starbucks/Aspen Dental next to Taco Bell on RT 82.
Photos by Julie D’Aloiso
These changes do not affect the amount of tax dollars that the school receives and these TIF’s do not cost the tax payers anything.
Other construction projects in the area:
