Pleasant Valley school officials are raising a red flag over Riverdale's plan to include the ALCOA plant in its first-ever Urban Renewal Area, the initial step in making the multi-million-dollar manufacturing facility eligible for Tax Increment Financing (TIF) rebates on future expansion and renovation projects.
Granting TIF incentives for future plant renovations could cost the district millions in school taxes, funneling those monies instead to either city coffers, back to the plant or into contractor/developer pockets.