HUNTSVILLE, Ala. (WAFF) – Huntsville city leaders are planning for growth in Limestone County with a proposed 9,000-acre tax increment financing district, known as a TIF, that would fund up to $230 million in projects.
The plan includes 11 projects, ranging from major road work to a new school, in the same area where Eli Lilly is building its manufacturing campus. Director of Urban and Economic Development Shane Davis said the TIF would not raise property tax rates.
“It’s not a tax increase. Two, we are not taking any existing revenues away from education nor city council general fund or Limestone County general fund. It is only future revenues,” a city leader said…