See an extra 1% charge on your receipt in Overland Crossing? Here’s why.
If you’ve been shopping recently in the Overland Crossing Shopping Center and noticed an extra charge applied to your receipt near the sales tax, that’s a private fee. The fee — that appears on a Whole Foods Market receipt in the center as “OVRLAND GIF” — is a private general improvement fee, or GIF, of 1% on each purchase. Dave Claflin from Legacy Development said the GIF functions similarly to a Community Improvement District or a Tax Increment Financing District, in that the revenue generated by the extra fee pays for improvements within a set area. These private financing arrangements are sometimes called a [...]