Update on Angliana Project
“State approves financing for Angliana project”
By Scott Sloan, posted July 29, 2010
Excerpt from Kentucky.com
The state on Thursday gave approval for final negotiations to start on making infrastructure improvements at a proposed development on Angliana Avenue in Lexington.
The Kentucky Economic Development Finance Authority in Frankfort gave the nod to allow the state to work with city government employees to finalize what’s called tax-increment financing.
The idea behind TIF projects is for governments to invest in improving infrastructure and then pay for those improvements using new tax revenue, which developments are expected to generate when the projects are completed and areas are revitalized…Read more at Kentucky.com