The Kentucky Economic Development Finance Authority board Thursday unanimously approved granting preliminary approval of the Gateway Commons tax increment financing (TIF) district. According to the Messenger-Inquirer, the approval was confirmed by Joe Lilly, executive director, Office of Research and Public Affairs for the Kentucky Cabinet for Economic Development. Now, before final approval is made, a consultant’s report must be completed. Gateway Commons is a planned development of retail, residential, and entertainment complexes on KY 54. Officials say its creation would provide a major boost to local economy.