TIF funds will help local businesses

Minden Economic Development has created a matching grant program for business owners to help with the façade of his or her business.

The funds come from the TIF (Tax Increment Financing) districts, and the grants are matching grants.

City of Minden Economic Developer Phillip Smart said this is a tax incentive program.

“It’s a 2 percent tax that mainly comes from tourism,” Smart said. “We use that revenue to help with economic growth in the districts from which it is collected. But it’s paid to the city as a tax.”

Smart said local businesses and ‘mom & pop’ stores will benefit, but the program is city-wide.

“Any remainder of TIF funds will be utilized to start incubator stores on the vacant city lot next to Smoking J’s,” Smart said. “We are predicting three stores at this time with food truck spaces and picnic area on the parcel of property as well.”