On the agenda was a proposed tax increment financing (TIF) project plan for Greenbrier County TIF District #1 covering the City of White Sulphur Springs, as well as The Greenbrier Sporting Club Development Company.
A TIF allows a government entity to set aside new property taxes that result from development in a specified area. That revenue is then used for local infrastructure and economic development projects.
Rose said, “A TIF was put in place years ago [in District #1], with the development of the Sporting Club as the source of the funding.” During the flooding which occurred in 2016, the TIF was used to redo the crumbling sewer plant in White Sulphur Springs. “WSS was in tremendous need,” Rose said, “and now there are several possible projects still needed in the TIF area.”
“When you do a TIF,” said Rose, “the county gives up its increase in taxes in the area, and we also get to capture what the state would get, which is many, many times what we would get. We’re giving up a little bit to get a lot.”
However, with the original TIF’s authorization coming to a close, White Sulphur had voted to partner with The Greenbrier Sporting…