Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Mayor announces HTRZ designation; up to $75M in tax-increment may support Cairns District infrastructure
Summary
Mayor Zoltanski told the council that the state approved Sandy's HTRZ (Housing Transit Investment Zone) designation, potentially unlocking up to $75 million in tax increment to fund infrastructure and transit-oriented housing in the Cairns District.
In the mayor’s report the mayor announced that Sandy received official HTRZ designation from the state board and described grants and investment potential for the Cairns District. "The Sandy received its official HTRZ designation by the state board...that will allow up to $75,000,000 of tax increment to be applied to our essential infrastructure that will set the foundation for new housing, new businesses, new transportation connections in the Cairns District," the mayor said.
The mayor said that HTRZ approval is a major economic designation for the city that can support transit-oriented, walkable development, including affordable owner-occupied housing and infrastructure to enable proposed projects. Council and staff congratulated economic development staff and noted representatives from state and local agencies praised the city's application as thorough and aligned with state goals.
