Old Bonne Terre Plaza TIF Approved

(Bonne Terre, MO) The TIF, or Tax Increment Finance District, in Bonne Terre's old Bonneville Plaza, is now approved by city council members. City Administrator, Shawn Kay, says the funds generated from the TIF will be used to help move a water main.

Kay explains a portion of the taxes generated by the development are allowed to be captured and used for upgrades. According to Kay, by law, a TIF commission had to be formed to gain input from all the taxing entities involved. An engineering plan is currently underway for the movement of the water main.