The tax increment financing district was established in 1998 with a required decertification date of 12/31/2024.  The EDA's obligation was satisfied when the Scott County CDA paid off the bonds earlier this year (tax increment revenues were pledged towards the bond payments).  The districts decertification will occur earlier than the required decertification date of December 31, 2024.  The original paygo note with the Scott County CDA was for a principal amount of $2,115,000, payable over a 25 year period with three percent interest.

The project was completed in conjunction with the Scott County CDA and included 52-units of senior rental housing (top floor), 25,000 square foot retail (bottom floor), and public plaza and parking facility.  The costs associated with the development and operation of the site, indicate the development of the site would not have been feasible, and would not occur, but-for the use of tax increment to finance a portion of the costs related to site improvements and infrastructure costs.