Since the Greene County Budget and Finance Committee failed to approve a TIF (Tax Increment Financing) Agreement with the Town of Greeneville to fund the traffic signal at the Serral Drive & 11E intersection, the Greeneville City Council had to discuss other options.
During the city council meeting on Tuesday, City Manager Todd Smith told members it did not make sense to continue with a TIF. After reviewing options, Smith said that funds from the State Street Aid Fund could be utilized for the project.
According to Smith, money from that fund has historically been applied toward repaving projects. Since the fund has a continuous flow of revenue from fuel taxes, money from that account will not be affecting other projects.
Instead of a motion, there was a budget amendment. The amendment will reflect that funds will be used from the State Street Aid Fund rather than through a TIF for the traffic signal project.
