The Indianola City Council approved the administrative processes for multiple developments to move forward at their meeting Monday, many of which will use a mix of commercial and residential housing supplemented by the use of Tax Increment Financing (TIF) from the city. City Manager Ben Reeves tells KNIA News the city wants to clarify that using TIF funds is not a handout or a giveaway to developers, simply a tool that uses the growing economic areas as incentive for developers to build.

“As a developer puts investment into a development, they incrementally raise the value of that property. So that increment can be used by the city to help incentivize and to remove barriers of entry, making it so they can come in and build their investment. Look at the Kentucky Ridge, the city had a sewer line and stormwater line issue in that area that prevented the area from being changed as far as grading was concerned, so that was a great opportunity to work in partnership with that group to make those improvements. So the city can help rebate and put money back into the project that allows them to grade it out and put a big commercial development into our community.”

To listen to the full interview, click below.

https://www.kniakrls.com/2024/12/04/lets-talk-indianola-city-council-recap-92/