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Germantown Board of Mayor and Aldermen votes on proposed TIF for "The Standard" after hours of testimony and an amendment
Summary
After extended public comment and staff presentations, the Board considered Resolution 26R05, the economic impact plan for "The Standard," a 10‑acre mixed‑use proposal. Board members debated timing and revenue tradeoffs; the resolution was put to a roll call after an amendment adding three conditions for the developer.
The Germantown Board of Mayor and Aldermen took up Resolution 26R05 on March 9, 2026 — the economic impact plan and Tax Increment Financing (TIF) application for a proposed 10‑acre mixed‑use development known as "The Standard" on the former CareForce shopping center.
City Director Ross told the board the application envisions roughly 150,000 square feet of office, 88,000 square feet of retail, a hotel and a 320‑unit multifamily building with ground‑floor retail. Under the Industrial Development Board (IDB) recommendation the increment would be split 75% to the developer and 25% to the city, subject to a $35,500,000 cap on reimbursable increment and reimbursements beginning only after each phase is completed and appraised. Ross said the base tax year would be frozen at 2025 and that the IDB required a minimum $5,000,000 in public infrastructure and had set a 20‑year term as its policy default.
Developer representative Michael Faye said construction costs and requirements have changed since the project was first reviewed, citing a 43% increase in nonresidential construction material costs between 2022…
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