Frankfort City Commission Proposes to Commit 50% of Downtown TIF Funds, Holds on Broadway Bridge in Kentucky
The project is to build a parking garage and transit center on the land, which formerly housed the Frankfort Convention Center. The project will be financed with TIF proceeds, garage bonds, and a federal transit grant.
Washington City Considers Using Tax-Incentive Zones to Spur Developments
Washington City officials are considering the creation of reinvestment zones that could help attract new business to the city while improving city infrastructure. Along with creating new amenities and possibly upgrading others, an additional benefit the CRAs can bring is that incoming developments and businesses within these redevelopment zones can help keep property taxes from going up.
Washington State House Concurs on TIF for Jobs Bill; Bill Heads to Governor for Signature
The Washington State House concurred on the TIF for Jobs bill, ESHB 1189, which was passed by the State House on March 3, and passed by the Senate on April 5 by a vote of 45-2. The House voted 68-30 to concur with the Senate's version of the bill. The bill will be on its way to the Governor shortly.
Planned Project to Bring Affordable Housing Options to North Miami
Last week a $5.8M grant was earmarked for Residences at NoMi, a planned residential mixed-use project that will bring 148 senior living apartments and 27 affordable housing units to the community. The funding was unanimously approved by the board of the North Miami Community Redevelopment Agency (NMCRA).
Maine Approves Up to $135M for Development of Moosehead Lake Ski Resort
The Redevelopment project through the Finance Authority of Maine will consist of a $135M bond issue to finance the acquisition, rehabilitation, design of the proposed four-season resort located in Big Moose Township. It would replace the old resort with new ski lifts, base lodge, hotel, and restaurant, marina, condominiums and more at the site that has fallen into disrepair. The project will also include TIF financing.
Union Trust Building Redevelopment Would Fill Gaps on Euclid Avenue in Cleveland, OH
The historic Union Trust building in Downtown Cleveland could be reimagined as workforce housing under a redevelopment plan that's been securing public financing in the past few months. The mostly vacant, 1.3 million-square-foot building, renamed The Centennial, would be home to more than 860 apartments. Plans also include some retail and office space.
Under Armour Downsizes Plans for Port Covington Headquarters in Baltimore in Wake of Pandemic
Under Armour plans to redevelop its waterfront land in South Baltimore's Port Covington as a global headquarters by 2025, consolidating all 1,700 Baltimore-based employees there and making remote work that began with the pandemic a permanent fixture.
Washington TIF for Jobs Bill (ESHB 1189) Passed by State Senate
The TIF for Jobs bill, ESHB 1189, which was passed by the State House on March 3, was passed by the State Senate on Monday afternoon with a vote of 45-2. The bill still needs the House to vote yes on concurrence and the Governor to sign the bill into law.
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