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RDA approves $500,000 TIF support for Military Avenue year‑round market site work
Summary
The authority approved $500,000 in TIF funds to pay for parking, stormwater and site improvements (not building construction) for a proposed $5 million year‑round Military Avenue market; staff said TIF work will proceed only if required fundraising for the building is successful.
The Redevelopment Authority approved $500,000 in TIF funding to support site work for a proposed year‑round farmers market in the Military Avenue business district.
Parks staff described a multiuse building concept that would host the weekly market, provide two days per week of exclusive vendor use and be available to parks programming the rest of the week. Staff said the $500,000 TIF request is limited to parking and stormwater management and would not pay for building construction; the broader project cost is estimated at $5,000,000 and would rely on district fundraising for the remainder.
Leah Walker, representing the Military Avenue Business District and an RDA member, said preliminary drawings exist, an anonymous donor has pledged $700,000 and the district would donate the finished building back to the city and continue to operate under a long‑term contract. Staff told the RDA site work funded by TIF would not proceed unless sufficient fundraising supported construction.
Alder Hinkes moved approval and a second was recorded; the motion carried by voice vote. Members asked for clarification about fundraising thresholds and staff reiterated that site funds would be coordinated with fundraising progress.
Next steps: staff will coordinate funding timing with the district’s fundraising campaign and develop the lease/maintenance language for committee review if the fundraising benchmarks are met.
