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, 1 the 90 before that.
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.
Some residents might be concerned about the high-density housing requirements in their neighborhoods.