The Anderson County Operations Committee will consider the tax financing plan for the $85 million redevelopment of the Oak Ridge Mall during a Monday evening meeting.
The Anderson County Operations Committee will consider the tax financing plan for the $85 million redevelopment of the Oak Ridge Mall during a Monday evening meeting.
The tax financing agreement could be worth $13 million and last 20 years. It would allow new property tax revenues generated at the site to be used to help pay for development costs.
The tax increment financing, or TIF, proposal has already been unanimously endorsed by the Oak Ridge Industrial Development Board.
It will be considered by the Operations Committee in a meeting that starts at 6 p.m. today in Room 312 of the Anderson County Courthouse in Clinton. It will also be considered at 4 p.m. Thursday by the Anderson County Budget Committee; at 7 p.m. Monday, Nov. 11, by the Oak Ridge City Council; and at 6:30 p.m. Monday, Nov. 18, by the Anderson County Commission. [Read more…]
