NrP 3 Financing Public Hearing
The proposal to establish a new tax increment financing (TIF) district to help pay off Target Center debt and fund neighborhood revitalization activities will be coming up for a public hearing and possible amendments on Tuesday.
You can read the plan here. This is made possible by the legislation many of us worked to get passed in 2008. I’m a strong supporter of the TIF district and believe that it is essential to future funding of neighborhood controlled planning and revitalization efforts in Minneapolis. I support funding Target Center debt relief (which will help our general fund and lighten the load on property tax payers) and neighborhood revitalization equally and will fight hard to ensure the neighborhoods get their share. The official public hearing for this will be at the Community Development Committee at 1:30 pm on Tuesday, July 21, in Room 317 City Hall.
It is important the Council hears loudly and clearly that residents expect us to follow through with our commitment to fund neighborhoods and neighborhood based planning with neighborhood controlled funds. I would like to see this at a level of at least 10 millions dollars a year.