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Germantown authorizes IDB to begin review of Standard Germantown TIF application
Summary
On Jan. 13 the Germantown Board of Mayor and Aldermen voted to authorize the city’s Industrial Development Board to begin a formal review of a tax-increment financing application tied to the Standard Germantown development. The decision clears the way for studies, public hearings and a subsequent BMA vote if the IDB recommends moving forward.
The Germantown Board of Mayor and Aldermen on Monday voted to authorize the city’s Industrial Development Board (IDB) to begin a formal review of a tax increment financing (TIF) application for the Standard Germantown development.
Economic and Community Development Director Cameron Ross told the board the application follows an outline plan approved in 2018, amended in 2019 and again in 2023, and that phase 2 of the project — on the south end of the site — would include ground-floor retail, a parking structure and 320 multifamily units. Ross said the full development will include just over 400,000 square feet of office space, just over 100,000 square feet of retail, 240 hotel rooms, 320 multifamily residential units and an additional roughly 60 fee-simple condominium units. The TIF application was submitted by an entity listed in the record as CRE DevCo.
Ross described TIF…
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