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Minden City Council to talk tax increment financing at workshop

by Minden Press-Herald

The Minden City Council will meet Tuesday for a workshop to discuss what could possibly entice businesses to locate to Minden.

Mayor Tommy Davis says they will discuss tax increment financing, which creates a district where all or some of the taxes collected in that district are strictly spent there. It is different than a “taxing” district, where taxes are collected and spent on whatever the city decides.

“You can make a tax incentive district where you can bring in businesses or industry,” he said. “We have met with some attorneys that have put these together and Economic Development Director James Graham is the one who is showing this to us.”

Davis says Graham will conduct a presentation at the workshop to show the different ways a Tax Increment Funding District, or TIF district, can be created. He says it can be done a number of different ways.

For example, if a shopping center is interested in building or locating in Minden, a tax increment financing district can be created just for that piece of property. Revenue from those property taxes or sales taxes from that shopping center can be set aside to help that business with infrastructure needs or whatever they need, he said.

The idea is to create an environment that will be conducive to attracting businesses and industry to the Minden area, he said. Davis says Graham has implemented such a program before and wants to develop one here.

The workshop will be at 10:30 a.m., Tuesday, Jan. 19, in the Pelican Conference Room at Minden City Hall.

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