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Council committee moves Providence Road rezoning/TIG package forward amid fiscal questions
Summary
Economic Development committee reviewed three simultaneous rezonings on Providence Road and a Tax Increment Grant (TIG) request. The committee voted to advance the TIG request to full council, while some members asked staff for detailed fiscal information about outstanding TIGs, expirations and revenue impacts.
The City Council’s Economic Development committee reviewed a package of three rezonings on Providence Road tied to a Tax Increment Grant (TIG) request and recommended advancing the TIG to full council consideration.
Committee members described the overall package as transformative and said, in the committee’s view, it merits full council review even as negotiations continue. “So we have a vote to move that forward,” one committee chair said…
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