Tax-increment finance district created for Austintown racino
YOUNGSTOWN — The Mahoning County commissioners today approved creating a tax-increment finance district, or TIF, on 187 acres between state Routes 11 and 46 in Austintown that will be home to the Hollywood Slots at Mahoning Valley racino set to open next year.
Audrey Tillis, director of the county’s Office of Management and Budget, noted that the casino and thoroughbred racetrack will increase property values.
Of that projected increase, 50 percent will be placed in the TIF and go toward road and sewer upgrades, among other infrastructure improvements, she explained to commissioners.
The other half will benefit schools and other entities to which property-tax dollars are allocated, Tillis added.
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