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8/19/2007
Tax Increment Financing Wouldn't Make County Liable for Bible Park
The Murfreesboro Post
Related Attorney(s):
James
L.
Murphy
,
J.
Thomas
Trent
Boult Cummings attorneys, Tom Trent and Jim Murphy, explain tax increment financing in this article about TIC possibly being used by Bible Park USA developers to build a $150 to $200 million park in Rutherford County, Tennessee.
"The increment is the increase in the property and sales taxes within the zone as part of this project," Trent explained. "That can be used to finance the project as long as there is $100 million of private investment funds or $200 million of public and private funds. You take that money and use it to pay for or amortizing principal and interest on financing for the project."
To read the full article, go to http://www.murfreesboropost.com/news.php?viewStory=5963.
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