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Council approves Cleveland Street Corridor TIF to fund redevelopment and community priorities
Summary
The council approved a joint ordinance establishing the Cleveland Street Corridor Redevelopment Trust Fund (ordinance 5935), a tax increment financing district meant to support redevelopment in the Crosstown‑Cleveland corridor; community leaders and institutional partners spoke in support during public comment.
The Memphis City Council voted to approve a joint city‑county ordinance creating the Cleveland Street Corridor Redevelopment Trust Fund under the Community Redevelopment Act of 1998 and the Uniformity in Tax Increment Financing Act of 2012 (Ordinance 5935).
Sponsor and supporters said the TIF will help channel tax‑increment financing to redevelopment projects spanning multiple council districts along the Cleveland corridor and provide local oversight of investment…
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