Published by admin on Tue, 03/10/2020 - 7:08pm
The request to extend the RidgePort Tax Increment Financing District has been withdrawn by the developer, Elion Partners.
Elion Partners, the developers of RidgePort, now called Elion Logistics Park 55, had asked the city to extend the 23-year TIF district for another 12 years.
Properties in Tax Increment Financing districts still pay property taxes, which increase as the value of the developed property increases. But TIF affects how taxes on the property are distributed.