TIF Zone 4 In Wichita Falls Moving Forward - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

TIF Zone 4 In Wichita Falls Moving Forward

Wichita County Commissioners got an update Monday from the City of Wichita Falls on a proposed Tax Increment Finance Zone. Commissioners had a few questions for the city in regards to TIF Zone #4. Public Hearings must be held on the zone before it can be approved by either the City or the County. Wichita County Judge Woody Gossom wants to hold that public hearing along with the City. Judge Gossom told Newschannel 6 the zone is a city entity but the County has legal obligations to tax payers to be in on the public hearings. Wichita County is involved in the TIF Zone #4 because it will effect County tax collections in the future from that area. This TIF Zone will replace TIF Zone #1 which was in the downtown area of Wichita Falls. The purpose of TIF Zones is to attract new businesses to the area by offering tax breaks that are paid to the City and County. Newschannel 6 will continue to follow this story.

Commissioners also received an update from the Citizens Advisory Committee who recommended that no new tax money be used for the demolition of the old Wichita General Hospital building. Commissioners also accepted an offer on the old Bonham School building. It will sell for $60,000 to Donnie Milton. Judge Gossom said he does not know what that building will be used for.

Powered by Frankly