Central Town Council Considers Tax Increment Financing for Eighteen Mile Village

Central Town Council discussed the potential for a tax increment financing (TIF) district for Eighteen Mile Village at a special meeting Wednesday. The proposed TIF would capture future property tax revenue from the development to fund public improvements such as wastewater and transportation upgrades. Projected to generate up to $80 million over 20 years, the plan hinges on support from Pickens County and the School District of Pickens County. Risks include the need for the town to issue bonds for improvements and the possibility of higher interest rates or using town funds if payments are unmet. The next Central Town Council meeting is on Monday, March 10th at 7pm in Central’s Town Hall.