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Board backs Landings urban renewal plan ahead of council TIF hearing
Summary
The Planning Board recommended approval of an urban renewal plan for The Landings to support potential tax increment financing. The recommendation will go to city council, which has a hearing scheduled next Monday, per board comments.
The Planning Board recommended the Landings urban renewal plan for designation as a revitalization area to enable potential use of tax increment financing (TIF).
A board member moved that the board adopt the urban renewal plan recommendation and the motion was seconded and approved by roll call. Chair noted the council has a hearing next Monday to consider designation and that the board’s recommendation will be transmitted to council for its consideration.
Members framed the move as supporting project financing and redevelopment objectives; the specific TIF terms and downstream fiscal implications will be decided by city council during the formal hearing process.
