The city council will get a briefing on a proposal to create TIRZ 7, a tax increment reinvestment zone that would fund the development of about 5,200 acres of mostly undeveloped land in the London area.
A TIRZ is a method for generating funding for projects in designated areas of the city. The funding comes from the value of taxable property in the zone.
Funds generated by TIRZ 7 would pay for infrastructure improvements including roads, utilities, stormwater management, parks, trails and public areas…