The Mount Carmel City Council has approved a series of ordinances moving forward with the city’s Tax Increment Financing District 7, commonly referred to as TIF VII.
At Monday meeting, City Clerk Ryan Turner explained the ordinances finalize months of discussion involving an expansion of the city’s corporate limits and the TIF district. Council first approved an ordinance annexing approximately 41 acres of land west of Mount Carmel into the city limits. The council waived a second reading, citing that a public hearing had already been held on the matter.
Following the annexation, council members approved additional ordinances amending and expanding TIF District VII to include the newly annexed property. The measures also added additional parcels to the existing TIF and adopted an amended redevelopment plan for Area VII, as required by the state.
All ordinances were approved unanimously by roll call vote, with second readings waived for each item.
City officials say the final approvals will now be filed with the state, allowing the city to move forward with development projects and funding opportunities within the expanded TIF VII area.
