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Conway council approves second reading for riverfront downtown redevelopment TIF district
Summary
Council approved second reading of a tax increment financing district for the riverfront and downtown redevelopment plan, a measure that establishes a baseline tax value for roughly 294 parcels to enable future public investment as private development occurs.
Conway City Council approved the second reading of an ordinance to establish a riverfront downtown redevelopment tax increment financing (TIF) district at its Dec. 1 meeting, voting unanimously.
The ordinance, described by attorney Gary Pope of Pope Flynn, would establish a district of "294 parcels of about 450 acres," targeting riverfront hotels, restaurants and redevelopment. Pope told council the plan "anticipates about a…
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