Analysis of TIF financing downtown

[Kerry]

What did The Hill and Block 42 use their money for?

For Grant Humphreys, the TIF covered a critical gap in funding development of the Block 42 condominiums at NE 4 and Central.

“Block 42 would not have happened if not for the TIF investment the city made,” Humphreys said. “When you're looking at downtown development with costs as high as they were for Block 42, it just doesn't work without that gap financing.”

Humphreys said the majority of the $990,000 allocated for his project paid for a fountain, plaza, landscaping and a pavilion enjoyed by residents and open to the surrounding neighborhood.

“We've used it for outdoor movies and events,” Humphreys said. “It's a place for neighbors to connect and have impromptu parties.”

This read a lot worse than it probably is but I am not sure I would be saying how the tax dollars paid for a location for residents to watch outdoor movies and have impromptu parties.

[Spartan]

This read a lot worse than it probably is but I am not sure I would be saying how the tax dollars paid for a location for residents to watch outdoor movies and have impromptu parties.

The developers can use it for whatever they want, it's for the purpose of small public improvements in the area. It is highly encouraged that they direct it toward something with public use potential.. would have been better to try and figure out something with anti-urban 4th Street, since the courtyard isn't really the best open space I've ever seen..