CLEVELAND, Ohio — The public got its first look at Mayor Justin Bibb’s vision for an East Side tax increment financing district, a proposal that would span neighborhoods long starved of investment and redirect between $64 million to $182 million in future tax dollars to spur development.
The plan, presented to the Cleveland City Planning Commission on Friday, would create two TIF districts covering parts of the Hough, St. Clair Superior and Central neighborhoods, mirroring the Shore‑to‑Core‑to‑Shore TIF downtown. If fully implemented, roughly 2,000 acres — or about 4% of the city’s land — would fall under tax increment financing.
Bibb first spoke about the idea a year ago, hoping to harness the same incentives used downtown to entice private developers to invest in economically depressed neighborhoods. Friday was the first detailed look at what these TIF districts would look like…