The city of Fayetteville’s revised Tax Allocation District map received preliminary support from the Fayette County Board of Education Monday night. The board voted 5-0 to sign a Letter of Intent that allows the city to move forward with plans to offer property tax benefits for businesses that develop or redevelop specific properties within downtown Fayetteville. The city had only slightly changed the boundaries of an earlier district, which meant little impact for the school system’s tax revenue. Board member Diane Basham said the plan seems to be “a win-win” for positive development.
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