Iowa Park City Councilors Using TIF Zones To Boost Growth

Iowa Park city council took action on two tax increment finance zones.

Public hearings were held before councilors could act on the zones. Iowa Park city leaders are looking to use the TIF zones to help the city continue to grow.

Recently Newschannel 6 told you about S-5 wanting to grow and the two new TIF zones will help them do that.

Iowa Park City Manager Mike Price said the TIF zones and S-5 will help to boost the city's economic value.

"If they show that they've maintained those jobs, put the real and personal property improvements on the ground and everything then they've got a good history with the council and the citizens of Iowa park. Then there's no reason why you wouldn't want to grant another one on those additional improvements."

S-5 is expected to bring in 17 new jobs in the coming year. They will be occupying the old Wal Mart building that has sat vacant for years. More jobs are expected to come with their planned expansion.