MEMPHIS, Tenn. — Mayor Paul Young pitched City Council members Tuesday on what he called a first-of-its-kind program that will use tax money generated by “artificial intelligence property” to support surrounding neighborhoods.
The proposed ordinance would designate 25% of the property tax revenues generated by two xAI sites — one in Boxtown and one in Whitehaven — to be used for infrastructure improvements within five miles of those sites.
That includes potholes, street repair, home repairs, social services and youth programs, and adding sidewalks, which many of the neighborhoods in these areas lack.
Mayor proposes ordinance to invest xAI tax revenue into Memphis communities
“This ordinance is about bringing dignity back to the community, neighborhoods that have been overlooked for far too long,” Young said, asking council members for their support…