Tax Increment Financing District

Lake Station Community Schools Seeking TIF Funds

Dec 8, 2020
Lake Station Community Schools

LAKE STATION - Lake Station Community Schools is seeking a portion of the municipality's tax increment financing district proceeds.

The "Times" reports the city created a TIF district in 2019 to capture funding for economic development endeavors. The TIF is expected to start generating money in 2021, but it isn't known how much will be generated.

State law allows school districts to petition for as much as 15 percent of TIF revenue.