Council hears details of proposed Providence Road redevelopment, tax-increment grant terms discussed

Charlotte City Council members and staff heard a detailed presentation on a proposed public–private partnership to redevelop roughly 105 acres along Providence Road, including new mixed‑income housing, sidewalks, trails and roadway work, but took no final action on a reimbursement agreement at Tuesday’s meeting.

City staff described the project as a “transformative revitalization” about 7 miles from Center City that would include 108 workforce housing units (100 targeted at households up to 80% of area median income, 8 at up to 60% AMI), developer cash contributions of $500,000 for affordable housing, greenway and park land donations and an expanded multi‑use bridge over MacAlpine Creek. The developer team has analyzed traffic impacts at more than 20 intersections and proposes roadway re‑alignments, new turn lanes, medians, signals and pedestrian upgrades across the corridor.

The revised economic terms presented to council propose an infrastructure reimbursement agreement using a tax‑increment grant (TIG) not to exceed $19 million to be reimbursed through 45% of incremental city and county property taxes over 15 years (or until fully…