(Deming) – The village of Columbus is holding an election to consider forming a Tax Increment Development District.
The Tax Increment Development District – or TIDD – reportedly is part of a plan for the revitalization and development of the village near the Columbus port of entry as well as throughout the village to help prepare for economic development anticipated with the expansion of the port.
If approved, the TIDD would issue bonds for public infrastructure financing which would include constructing diversion berm improvements to help with the village’s master drainage plan and help protect approximately 900 acres of undeveloped land near the port.
The bonds also would be used for paving access roads serving the port, and improving water and wastewater infrastructure and electric, natural gas and telecommunication utilities near the port.
Officials say the formation of the TIDD will not result in any new property taxes or gross receipts taxes in Columbus.
The TIDD instead would issue revenue bonds secured by gross receipts tax increment revenue – or gross receipts taxes generated in excess of the taxes currently collected.
Eligible voters are property owners or registered voters residing within the proposed Tax Increment Development District.
Ballots will be accepted in the village clerk’s office, 214 W. Broadway in Columbus, beginning Tuesday, January 3rd, 2017.
Ballots must be received by 7 p.m. on Tuesday, January 10th, 2017.
The Tax Increment Development District – or TIDD – reportedly is part of a plan for the revitalization and development of the village near the Columbus port of entry as well as throughout the village to help prepare for economic development anticipated with the expansion of the port.
If approved, the TIDD would issue bonds for public infrastructure financing which would include constructing diversion berm improvements to help with the village’s master drainage plan and help protect approximately 900 acres of undeveloped land near the port.
The bonds also would be used for paving access roads serving the port, and improving water and wastewater infrastructure and electric, natural gas and telecommunication utilities near the port.
Officials say the formation of the TIDD will not result in any new property taxes or gross receipts taxes in Columbus.
The TIDD instead would issue revenue bonds secured by gross receipts tax increment revenue – or gross receipts taxes generated in excess of the taxes currently collected.
Eligible voters are property owners or registered voters residing within the proposed Tax Increment Development District.
Ballots will be accepted in the village clerk’s office, 214 W. Broadway in Columbus, beginning Tuesday, January 3rd, 2017.
Ballots must be received by 7 p.m. on Tuesday, January 10th, 2017.
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