Update: State Okays Tax Increment Financing For CentrePointe Project

Update: State Okays Tax Increment Financing For CentrePointe Project

The state has approved tax increment financing, or TIF, for the latest version of the downtown CentrePointe project.
The state has approved tax increment financing, or TIF, for the latest version of the private downtown CentrePointe project.

Overall, the $394 million deal includes plans to build a hotel, office space, apartments, and stores.

It's currently a vacant lot near the Main Branch of the Public Library.

As part of the TIF plan developers would build a 700-space parking garage.

The state would then reimburse developers for it, since it would be used by the public.

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