SAC CITY - The city of Sac City is proposing to enter into an agreement with Sac County to create a Tax Increment Financing area in the northwest portion of Sac City that would make accommodations available for recruitment of light industrial business along the bypass, and preserve and possible increase the valuation of the property and adjacent properties to which it would be applied.
In real terms, what this agreement will do is allow the cost of infrastructure in the proposed TIF area to be financed against the future difference between the present value of the land, and the increase in value of that land sound a business move in.
The Sac Council actually put off moving forward on this proposal until the full council can discuss it at the November 28, 2011 Sac City Council meeting.
