City Council approval of the new money on Monday will bring city loans to the project to $4.2 million. The balance in the downtown TIF now stands at a little over $1 million. Under the plan approved by the City Council, this balance would drop to about $38,000 by 2022. Use of the TIF money for the Colonial Theatre means that this money wouldn't be available for the garage. No plan for sustainability for the needs of the Colonial or the block of businesses and floors above has been created.”

Source: Daily Sun September 27, 2017 06:00 UTC