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Downtown Memphis Commission defends PILOTs as engine for downtown investment
Summary
Shandell Ryan, executive director of the Downtown Memphis Commission, told the ad hoc committee that DMC PILOTs catalyze downtown redevelopment and typically produce higher long‑term tax revenues, while emphasizing underwriting, clawbacks and a practice of not extending PILOTs.
Shandell Ryan, executive director of the Downtown Memphis Commission, told the Shelby County ad hoc committee that DMC PILOTs are designed to remediate blight, increase density and ultimately raise long‑term tax revenues for the city and county.
"I do believe that there will be a delay in projects. Some rely on timely approval of pilots in order to move forward as a part of their capital stack," Ryan said, warning that a moratorium or extended delay could create investor uncertainty and postpone catalytic projects. Ryan described DMC’s financial analysis process, project compliance requirements (including clawbacks) and a policy against granting extensions for PILOTs.
Ryan presented examples of downtown projects that, she said, saw substantial increases in assessed values after redevelopment and highlighted that some applications are turned away when analysis shows a project does not need a PILOT. DMC offered to provide policy documents and noted it works to balance development goals with neighborhood protections.
