Tax Increment Financing

Overview

The City of Paola recognizes that it is essential to stimulate economic growth and development of new commercial enterprise in order to provide services, employment and tax revenues for the benefit of the community.

To meet these economic development goals, the City recognizes the need to encourage the redevelopment of property located in the City by creating redevelopment districts and financing for qualified redevelopment projects, as provided by the Kansas Tax Increment Financing (TIF) statutes.

Approved TIF financed projects should be those that would not be viable without TIF assistance because of conditions of blight, unusual circumstances existing on the redevelopment site that hinder development, or other factors that make development more difficult.

View the complete Tax Increment Financing Policy and Application.