The city of Stacy will hold a public hearing on the establishment of a Tax Increment Finance (TIF) district on June 14 at 7 p.m. Establishment of a TIF district will benefit the city as Stacy moves forward with the building of a new liquor store. A copy of the non-binding Letter of Intent addressed to Jeff Hensel representing Greystone Construction Company was provided to the city council last week. Greystone agrees to purchase and develop the land on the south side of Stacy Trail. The city hopes to pass the TIF and will then enter into an agreement where Greystone will give the city a long-term lease agreement on space within the development for a new liquor store. Under TIF, the developer would be responsible for all costs related to the TIF district, anything from ìthe ground downî Councilmember John Daher stated. No TIF money can be used for the building itself.

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