Town hall set to discuss proposed TIF district in Capitol Hill

A town hall meeting will take place at 5:30 p.m. May 12 at the Yale Theater, 227 SW 25th St., to discuss a proposed Tax Increment Financing (TIF) district in Capitol Hill.  

TIFs are a way local governments help pay for improvements in a specific area by using the new tax money those improvements create. Cities use TIFs to support development by reinvesting a portion of property taxes generated in the district. When new private investment raises property values, the added tax revenue goes back into the area to support further growth. 

Ward 6 Councilwoman JoBeth Hamon will host the meeting, which will cover how TIF districts operate, where the proposed district would be located and what the process may look like. 

“I hope this meeting can be a chance for area residents and businesses to gain knowledge about this development tool, ask questions about how this may impact them and share with city staff what kind of development and public investment they'd like to see in the proposed TIF boundaries,” Councilwoman Hamon said. 

Business owners, residents and community organizers are encouraged to attend the meeting.