The Vincennes Redevelopment Commission has passed a declaratory resolution for a residential TIF District. The tax-increment financing district will capture tax money from the residential areas, and use them toward improvements and additional housing.
The Residential TIF has been under consideration for many months. It will replace the expiring term of the current commercial tax-increment financing zone. The Vincennes City Council must approve the TIF resolution before it takes full effect. The RDC approval will be forwarded to them for possible consideration starting on Monday, September 26th.
