Ridgeland anticipates shortage from TIF bonds for Lowe's
By KATIE EUBANKS
Sun Staff Writer
A LOWE’S-ANCHORED shopping center off County Line Road in Ridgeland still isn’t bringing in quite as many tax dollars as the city would like.
In December 2005, Ridgeland officials took out $5.3 million in tax-increment financing (TIF) bonds to fund some improvements at the shopping center, including a drainage system and a detention pond.
TIF bonds are repaid with the increase in taxes (in this case, sales and property taxes) brought in by such a development.