Economic Development Corporation Pushed TIF Plan - WICU12 HD WSEE Erie, PA News, Sports, Weather and Events

Economic Development Corporation Pushed TIF Plan

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The economic development corporation Monday night, pitched a TIF, or Tax Increment Financing Plan, to a number of municipalities.

Monday evening, they focused on Albion.
They want to create a TIF district in the western part of the county, as part of the inland port project.
Basically, it's a way to make property improvements using tax revenue, making the property more attractive to companies looking to move here.
Monday night, Albion voted to look at the plan.
Other locations include Cranesville, Elk Creek and Conneaut townships.

"Right now we have two prospects we're talking too. We're hoping to possibly propose a future TIF project. So, we're setting the groundwork for that to occur. We have two prospects in mind and we're hoping to take the next step if they would like to develop in the area." Said David Brennan of the Economic Development Corporation.

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