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Tax Incremental Funds

St. Petersburg staff to present alternative uses for downtown TIF

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St. Petersburg city staff will present ideas on how to expand the use of Tax Incremental Funds downtown to relieve the city’s budgetary burden. City Council member Karl Nurse wants to see whether there’s a way to tap into the portion of property tax money set aside for projects within the downtown TIF district for projects not traditionally considered under the program. Particularly, Nurse is hoping to use the money for sewer infrastructure repairs. “Every time you build a block,…

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St. Pete City Council to vote on ten programs geared to boost South St. Pete

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St. Pete City Council will vote on a resolution supporting ten items aimed at improving conditions on the Southside at its meeting Thursday. The items are recommended by the Citizens Advisory Committee to be funded through the first round of appropriations from the newly created Southside Community Redevelopment Area. Five of the proposals would use county-approved Tax Incremental Funds to provide direct grants to businesses, property owners and residents within the Southside CRA. An Affordable Multifamily Housing Development program would…

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