St. George To Consider Creating New Business District
City officials in St. George are weighing plans to create a new business district with the goal of encouraging new development.
The St. George Spectrum reports city council is set to vote Thursday on a proposal to make 44 acres of the city eligible for tax increment financing.
That's a process where property tax revenue collected in the area, which is expected to increase as development increases, is used to fund infrastructure improvement projects.
Officials are hopeful the project, if passed, would spur more development in downtown St. George.
The Spectrum reports a series of projects, including new commercial centers, are in talks to be developed in the area at present.