Future Funding for SN Could Include TIF

Watch the CNAC meeting on YouTube

The Coalition for Neighborhood Action Coalitions meeting in December focused on the future on Strong Neighborhoods, including funding.
Strong Neighborhoods Director Kip Harkness gave an overview of tax increment financing, a potential funding source. A plan is in the works to amend the Redevelopment Plan for Strong Neighobrhoods to use tax increment financing in the SN Project Area as the Redevelopment Agency now uses in industrial areas.

The TIF in the Strong Neighborhoods Project Area would not be a new tax nor would it increase homeowners’ property tax bills. In the long term, it could also generate more money for most school districts in Strong Neighborhoods areas, Harkness explained.

Formed in June, CNAC’s mission is to provide neighborhood insights, knowledge and resources to support the advancement of SN’s four core goals: Stabilizing neighborhoods in crisis, mobilizing neighborhood action, connecting resources to priorities and removing barriers to neighborhood action.