The Council reviewed Senate Bill 23, which creates FHIZs to boost housing and mixed-use development using tax increment financing. While acknowledging potential benefits for infrastructure and small businesses, the Council expressed concerns about high-density requirements and opted for further assessment before commitment.
At a glance
Declining — being discussed less frequently. 0 mentions in the last 30 days.
The program allows the city to capture 60% of property tax increment for 25 years to fund infrastructure, with 2% for administrative costs.
The program aims to benefit residents by increasing housing supply, including affordable units, and supporting infrastructure development.
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Some residents might be concerned about the high-density housing requirements in their neighborhoods.