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Economic Development director presents TIF outcomes, downtown initiative and new storefront activation proposal
Summary
Jill Connors outlined how targeted Tax Increment Financing and development agreements have leveraged private investment; she described a Downtown Storefront Activation program and reported $68 million in private investment tied to 15 development agreements executed over the last year.
Jill Connors, Economic Development director, told the council the department’s work centers on jobs, housing, arts and the tax base and that, historically, each dollar of city investment in incentives has leveraged roughly $7.50 in private investment.
Connors said the city executed 15 development agreements in the past year that together leverage about $68 million in private investment and create more than 300 residential units. She described how tax increment financing (TIF) has been used to unlock rehabilitation and redevelopment — showing examples where…
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