10/17/2025
Thank you to the Corsica Globe and Mitchell Republic for publishing the following letter to the editor, written by David Lambert on behalf of the Corsica Development Corporation:
๐๐ผ๐ ๐ง๐ฎ๐
๐๐ป๐ฐ๐ฟ๐ฒ๐บ๐ฒ๐ป๐ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐ถ๐ ๐ฃ๐ผ๐๐ฒ๐ฟ๐ถ๐ป๐ด ๐๐ผ๐ฟ๐๐ถ๐ฐ๐ฎโ๐ ๐๐ฟ๐ผ๐๐๐ต
In small towns like Corsica, progress does not just happen by chance; it takes planning, persistence and the right tools. Over the past five years, Tax Increment Financing (TIF) has proven to be one of the most effective tools the community has ever used to spark meaningful growth in both housing and business development.
Thanks to two successful TIF projects, Corsica is experiencing measurable expansion, stronger property values and renewed optimism for the future.
In 2021, the Corsica Affordable Housing TIF helped turn a vision for new housing into reality. With a total project cost of $400,000, and $382,551 financed through TIF, Corsica Development Corporation purchased a 40-lot subdivision on the southeast side of town and made the necessary street and infrastructure upgrades to make the lots build-ready.
Without TIF, that development simply would not have been financially possible for a community Corsicaโs size. But with the financing tool in place, the project took off. The results have far surpassed expectations. Homes initially projected to sell for $250,000 are now averaging $350,000, with only two lots remaining for sale as of September 2025. This success has led to plans for a Phase Two housing development, which will again use TIF to ensure continued growth and affordability for local families.
What began as a way to meet housing demand has become a model for how small communities can grow sustainably without overburdening taxpayers.
Corsica did not stop with housing. In 2024, we launched the Corsica Southwest Business Park TIF, a $2.5 million project designed to expand the local economy and attract new employers. Through a $996,931 TIF, Corsica Development Corporation acquired and began developing 24 acres on the southwest edge of town, now an 11-lot business park designed for commercial and light manufacturing uses.
The project is already delivering results. A 7,000 square-foot commercial building is under construction, and multiple new business prospects have expressed interest. The park has created a foundation for long-term tax growth and job creation, ensuring that Corsica can continue to build opportunity for the next generation.
Some might assume that communities of this size cannot compete for growth, but we are proving otherwise. Without TIF, neither of these projects would have happened. The upfront costs of land acquisition and infrastructure are simply too high to attract private investment in small, rural markets.
TIF bridges that gap. It allows communities like ours to make the improvements first, then repay the investment through the new tax revenue generated by that very growth. It is a practical, self-sustaining model that works, and Corsica is vibrant proof.
Both projects have exceeded expectations and created real, lasting impact. Corsica is growing. Families are moving in. Businesses are calling. And the communityโs future looks stronger than ever.
For Corsica, Tax Increment Financing is not theory; it is results. It is homes, jobs and investment that otherwise would not exist. And, as we plan the next phase of development, one thing is certain: TIF will remain a crucial component of Corsicaโs growth story.
