A tax increment financing (TIF) district would take in all or parts of nine neighborhoods in Louisville's West End, diverting 80% of new tax revenue in the area to the West End Opportunity Partnership over two decades.
SB 259 would require the NAACP and six other organizations to propose more than one candidate when vacancies occur on the West End Opportunity Partnership board and put those entities at risk of losing their board seats if they refuse.
The state grant funds would cover the cost of a rail spur at Stellar Snacks' Park Hill site and hiring incentives, according to a Metro Council resolution.
The West End Opportunity Partnership has had two board positions that have been vacant since 2022 and 2021, respectively.
Backers of the tax increment financing plan say it’s a way to use an established economic development tool. But some economists, TIF scholars and land-use experts caution that its massive size and novel structure could create difficulties or unintended consequences in the future.
