Marion is moving quickly to use tax increment financing (TIF) to help fund the development of the former Marion National Bank Building, now called Ridley Tower, after yet another developer approached the city looking for a handout.

At a meeting in October, the developer of Ridley Tower, Halstead Architects, asked the city to stick its neck out and issue a TIF bond for a project that struggled to even get a bank to issue a loan due to the “risk” at stake. As of the meeting last week, the public and board members still don’t know for certain if a bank has even signed onto the project.

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