"As improvements are made to the tax increment district by developers, the property tax revenues increase. However, the city and other government entities continue to receive the same tax money they did before any development took place. The difference goes toward paying off the bonds.
The tax increment financing in this case would go toward such things as grading of the site and the installation of infrastructure. Sanitary sewer, water mains, electricity and asphalt paving are among the necessary improvements.
City manager Doug Russell said the project looks promising. He has worked with Dozier in the past while trying to locate a Lowes in a community he was managing. Though Dozier came through with a Lowes contract, the community ultimately decided against moving ahead with the project."
Copied from the Yankton Press and Dakotan and lifted from an anonymous post a few days ago.
I don't guess it is as impossible as it seemed. Just need the right people.
