CRESTVIEW — A public hearing has been scheduled on the proposal to establish a "tax increment financing," or TIF, district for the PJ Adams Parkway-Antioch Road Corridor.
The hearing is 9 a.m. Dec. 2 at the Okaloosa County Courthouse in Crestview.
PJ Adams and Antioch are scheduled to be widened to four lanes and be partially re-aligned north of Interstate 10.
"The county has received some funding from the state for design of the roadway and right-of-way acquisition, but the project — which is critical for the economic development of Okaloosa County — will require many millions of dollars more than is currently budgeted," County Commissioner Nathan Boyles said in his recent newsletter to constituents.
"If created, the TIF district would establish a savings account that could be used for the project. More importantly, the funds collected through the TIF district could be used to encourage the state to provide additional funding through matching grants and other sources," he said.
Establishing the district would not cause a property tax rate increase, county officials said.
This article originally appeared on Crestview News Bulletin: Public hearing set for PJ Adams tax increment financing district