Members of the Plymouth Redevelopment Commission held a special meeting Thursday to consider passing through some assessed value in the (TIF) Tax Incremental Financing Districts.
The purpose of the meeting was to determine the amount of excess assessed value in each of the four TIF Districts in the City of Plymouth that can be allocated over to the other taxing units.
Member Nancy Felde made a motion to pass through the same amount as last year.
Vice President Mike Miley said for TIF #1 US 30/Oak Road, $20 million of excess assessed value would be passed on to the other taxing units. In TIF #2 East Jefferson/Central business district there is no excess as well as in TIF #3, the US30/Pine Road district and in TIF #4, the South Gateway district.
The motion passed unanimously.
