MOBILE, Ala. (NBC 15) — Mobile’s mayor is pushing to create three new tax districts he says could help revive struggling areas and attract developers. These districts would not raise taxes. Instead, future property tax growth would be redirected to projects in the district. It’s a financing tool called tax increment financing or TIF. The mayor says each district could generate millions in five years.
“The TIFs really have to be focused on improving blight, on preventing commercial blight, on identifying areas that are underdeveloped or not developed at all,” said Mayor Spiro Cheriogotis…