The Town of Suffield looks to stimulate economic development with the adoption of a Town Center Tax Increment Financing (TIF) District approved at Town Meeting. TIF captures anticipated future increases in property tax revenues for a specific area and then reinvests those dollars towards current costs associated with development. First Selectman Melissa Mack enumerated the benefits, “A beautiful and vibrant Town Center is essential for a strong community. TIF provides Suffield with an important financial tool to boost economic development in the Town Center and encourage private sector investment.”
Suffield is the third community in Connecticut to approve a TIF District. The Town Center TIF District Master Plan for Suffield can be found at www.suffieldct.gov.
For additional questions, contact Kim Worthington at 860-668-3838.