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Commission hears Cleveland Street TIF proposal; committee forwards redevelopment plan and trust fund for approval
Summary
Community groups and nonprofits presented a proposal to establish a Cleveland Street Corridor Redevelopment Trust Fund / TIF; commissioners praised community engagement and forwarded the trust fund ordinance and the community redevelopment plan with favorable recommendations.
Commissioners in the Economic Development & Tourism committee heard a multi-organization presentation about a proposed Cleveland Street Corridor Tax Increment Financing (TIF) district and associated Redevelopment Trust Fund. The joint ordinance (a first reading) establishing a Cleveland Street Corridor Redevelopment Trust Fund and a companion resolution adopting the Cleveland Street Quarter community redevelopment plan were presented by community partners including Mississippi Boulevard Christian Church, Crosstown Memphis CDC, and Crosstown Redevelopment Cooperative Association. The applicant coalition emphasized that this TIF is…
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