Columbus Council Approves TIF District Agreement

(Columbus) The Columbus City Council recently approved a tax incremental finance agreement. It is for 146 North Dickason Boulevard between the city and Keith and Andrea Loppnow.  

The agreement is a pay as you go financing on the commercial building at 146 North Dickason Boulevard. Director of Community and Economic Development Mike Kornmann says the agreement incentivizes construction on the currently vacant lot. 

“So, until that building is built, the increment payment would not start [until] that happens,” says Kornmann.  

Kornmann says this truly reflects the commercial aspects of the building. The cap amount is $75,000 starting after the building is completed. The payments would continue until the cap is met or at the end of the tax increment district.