The city is considering the TIF to generate revenue for future public improvements, documents state.
A TIF is an economic development mechanism for local governments to finance public infrastructure improvements, according to the state.
A TIF locks in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved, records show.
Payments from the increased assessed value of any improvement to real property beyond that amount are directed toward a separate fund to finance the construction of public infrastructure, according to the state.
The board of education is set to meet at 7 p.m. in the South Unit Commons of Centerville High School, 500 E. Franklin St.