What does the failure of the downtown TIF district mean for Columbia’s development? The Tax Increment Financing district would have taken a portion of taxes to pay for upgrades to sewer and electrical systems in the area.
City Manager Mike Matthes says, now that it is off the table, all future development has to be put on hold until a new solution comes forward.
“The folks that are currently building can finish, but if they haven’t broken ground, there will be no building permits released. So, we are maxed out,” says Matthes.
Matthes says some council members have already brought up ideas for how to pay for infrastructure improvements. He says it seems like the council is looking for a more community-wide solution rather than focusing on one small area of the city.