August 2, 2004 -- Posted at: 11:55p.m. CDT
The TIFs came about after referendum 78 passed on the 2000 ballot. After some changes by the legislation, it finally became a law during last year's legislative session. It creates TIFs with hopes that the re-routed money would help improve neighborhoods, create jobs and encourage company owners to bring businesses to the area, or redevelop existing ones.
The moratorium will give city council members a chance to discuss criteria for different kinds of TIF districts. They will next have to vote on whether they want an ordinance to set those guidelines, and decide what they want those guidelines to be.
Alec Farmer, Jonesboro City Council member, explained, "The language is pretty vague as far as what qualifies and what doesn't qualify, so we felt it was important that we have some time to develop some criteria specific to Jonesboro."