Commission Chairman Randy Dallke said the commissioners are willing to give the city of Hillsboro time to assess the status of its TIF district, and to get back to them before they make any decisions.
He said all taxing entities, including the county and school district, must approve the TIF, which would reimburse the city for property-tax benefits granted to businesses within it. Dallke said the problem for the county is to make sure things are done fairly so the rest of the county isn?t being asked to pay for something that only benefits one entity.
Peabody also has begun a TIF program for renovating its downtown area.
Commissioners Bob Hein and Dan Holub both noted that nobody on the commission is trying to be anti-Hillsboro, but they have to consider that other cities in the county have the right to ask for the same benefits, thus potentially spreading a load on county residents without interest in TIF.
They said they are particularly concerned for school districts losing tax dollars over the 20-year lifetime of the proposed TIF.