Since the KFC Yum! Center has existed, there has been a Tax Increment Financing provision, or a TIF. This TIF allows state taxing bodies to work together to invest in an area's development in exchange for economic growth.
Mayor Greenberg met with Republican lawmakers in Frankfort and proposed a bill that would allow selected carveouts of the arena state TIF district to other significant projects seeking state sales and property tax incentives for their developments.
I view it as a good thing if it encourages downtown development, makes the area more interesting and helps the arena.
Here's what our viewers had to say:
Not only should they, but they should encourage any carve out for development in downtown. Louisville still lags behind its peer cities. Without some innovative programs to encourage development downtown. We're going to continue to lag.
Sorry, I don't support your idea. When do us home owner property taxes get a TIF? When? When do we get something a little extra for owning a home instead of just raising our taxes or TIFs.
I think this TIF tax was brought about because the mayor wanting to get this area developed, and this will be to his advantage. It's a win-win for the city and the area businesses, if it passes. Thank you.
