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A Resolution approving the activities and improvements eligible for tax increment financing in the Jefferson Street Redevelopment Plan.
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WHEREAS, Section 5.06.060 requires a periodic assessment of the activities and improvements eligible for tax increment financing in the approved redevelopment districts; and
WHEREAS, the Metropolitan Development and Housing agency held nine public meetings and conducted surveys of the property owners and the citizens of Davidson County to determine the priorities for TIF expenditures in the respective Districts.
WHEREAS, the results of the survey were consistent across the redevelopment plans; and
WHEREAS, the Metropolitan Development and Housing Agency Board of Commissioners approved the tax increment financing priorities at the August 2022 Board meeting; and
WHEREAS, the same priorities are presented here for concurrence by the Metropolitan Council.
NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Metropolitan Development and Housing Agency has approved the activities and improvements prioritized for tax increment financing in the Cayce Place Redevelopment Plan and the Jefferson Street Redevelopment Plan.
Section 2. The priorities for tax increment financing in each of the districts are affordable housing; projects directly improving transit infrastructure including greenways and pedestrian ways; all types of public infrastructure; and preservation of historically significant structures.
Section 3. This resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves the activities and improvements eligible for tax increment financing in the Jefferson Street Redevelopment Plan.
The Metropolitan Development and Housing Agency ("MDHA") oversees 11 Redevelopment Districts in Nashville, includin...
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