CHATTANOOGA, Tenn. — The City of Chattanooga is shifting another $1.5 million into the Westside redevelopment project.
The money is meant to cover an unanticipated loss of federal funding.
The One Westside Project is a major development for the City of Chattanooga, funded through a process called “Tax Increment Financing.”
Essentially, the city plans to use the increase in property tax value to pay for the project’s development down the line…