HUNTSVILLE, Ala. (WHNT) – The City of Huntsville is working to invest in public infrastructure and improvement projects downtown. City leaders ironed out the details of a proposed tax increment financing district (TIF) at a work session Monday night.
“We can stimulate redevelopment and new private investment within this proposed district, said Urban and Economic Development Director Shane Davis. “Furthermore, the development or redevelopment that is located within this district, we don’t believe, can be fully realized without some of these capital improvement projects.”
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TIF 9 is a $220 million investment in improving several areas around Huntsville to support population growth. These include $200 million to add 100,000 square feet of event space to the Von Braun Center, along with meeting space and improved parking. The former Federal Courthouse, Lowe Ave and Beltline Greenway could also see improvements, along with a new park and playground at Mill Creek.
Davis says the cost of these projects will not fall on taxpayers. After 14 years, the project will have paid for itself by generating tax revenue…