Columbus City Council won’t hold its regular hearing Monday evening, but members are hosting a series of public hearings this week to touch base with residents ahead of the New Year.
Starting this evening, Council members will hold four public hearings to discuss local spending and policy changes. Monday is a forum on area commissions and Tuesday will have hearings on portions of the proposed budget.
Thursday night, Council member Emmanuel Remy will lead a discussion on tax increment financing.
“It’s a development tool to try to help spur development along in specific areas,” Remy says. "And so we’ll get into much greater detail Thursday night, but certainly want people to understand the ins-and-outs of what tax increment financing is.”
In a nutshell, the approach earmarks property taxes to pay for things like infrastructure nearby.
“I felt it was important that we be as transparent as possible about the benefits of tax increment financing,” Remy says. “It will be hopefully a great opportunity for residents to gain a better understanding of what area TIFs individually are, and as a group what they mean to specific areas of the city.”
All the hearings will be held in Council chambers downtown.
