From transit-oriented development to TIFs for downtown developments, it was a busy day in council chambers
Terri Hamilton-Brown, the city's interim director of economic development, told Council that a combined $39,220,560 in city and state tax credits would eventually result in some 600 permanent jobs and about $1 million in city income tax revenue. And, of course, as shown off Wednesday, a fully refreshed Galleria, with 21st century"entertainment, retail, sports tourism"—to"repurpose the entire city block, which needs new life.
The massive tax incentive ask—totaling some 18 percent of funding—seemed to rile some councilmembers, who thought the lean on the city might be a little too much. Some, like Council President Blaine Griffin, philosophized as to whether or not Downtown needed a luxury hotel in the first place. "Hey, our convention pipeline is strong as it's ever been," Pinney argued, adding that the W Hotel would be just second in line to the Ritz Carlton in Tower City."We're mindful of the impact of the hotel."
City Planner Matt Moss and Director Joyce Pan Huang urged Council that the TDM"menu" of non-car-related incentives for developers would lead to creating more climate-friendly, more-walkable places to live along transit lines.
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