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New TIF district at Quincy Mall?


QUINCY — Preliminary talks are underway to create a new tax increment financing district in the Quincy Mall area, which recently was announced as the site of a new 25-bed hospital for Quincy Medical Group.
Tax increment financing works by capping the value of a designated area determined to be “blighted” by a third party under criteria written into state law. Any property taxes collected on the land up to the capped value go into the city’s general fund. Property taxes collected above the base value get diverted into a special account reserved for economic development purposes.
Local governing bodies such as school and park districts would continue to receive tax revenue up to the base value of properties within the TIF district but would derive no additional revenue if the value of any parcel improves. ....

Sayeed Ali , Anaise Berry , Troy Webb , Roger Leenerts , Chuck Bevelheimer , Cullinan Properties , School Board , Quincy Medical Group , Cullinan Properties Ltd , Quincy Mall , Quincy Medical , Quincy Park Board Commissioner Roger Leenerts , Public Schools Superintendent Roy Webb , School Board President Sayeed Ali , ஸேயிட் அலி , ராய் வலை , குல்லினன் ப்ராபர்டீஸ் , பள்ளி பலகை , க்விந்ஸீ மருத்துவ குழு , குல்லினன் ப்ராபர்டீஸ் லிமிடெட் , க்விந்ஸீ மால் , க்விந்ஸீ மருத்துவ , பொது பள்ளிகள் கண்காணிப்பாளர் ராய் வலை , பள்ளி பலகை ப்ரெஸிடெஂட் ஸேயிட் அலி ,