Mount Vernon hopes to keep more money downtown - Tri-State News, Weather & Sports

Mount Vernon hopes to keep more money downtown

Mount Vernon has re-instated its Redevelopment Commission and it's hitting the ground running.

Mayor John Tucker says the commission hopes to create a new TIF district in downtown Mount Vernon. That's a tax increment finance area.

Tucker says a certain percentage of taxpayers dollars would go into a fund, and that money could only be used downtown.

The area  the Redevelopment Commission is targeting would go from Water and Main Streets, north down Main Street to the railroad tracks near 10th Street, and then a few blocks both east and west.

Tucker says the funding can help with tearing down old structures, as well as new business development.

A number of committees will need to approve the TIF district, including the city council.

Copyright 2013 WFIE. All rights reserved.

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