ukatekexo.wordpress.com
The community development authority (CDA) will take effect April 27, as long as 51 percenyt of the property ownersstill approve. The countyg will then vote on issuing $40 milliomn in tax increment financing tohelp Columbia, S.C.-based Edens & Avant build the Mosaic District at Lee Highwayy and Gallows Road. Officials envision a miniatured a little more thana half-mile from the Dunn-Lorinbg Metro station. The counthy would issue $40 million in bonds to pay for widening and extendinhEskridge Road, widening Route 29, constructing internal road s and building five municipal parking garages at Mosai c Center. The funding woulf be repaid over20 years.
Edense & Avant plans offices, retai and residential units onthe site, now home to a movise theater and warehouses. The project wouldc also include 2 acrewof parks, where there could be outdoorr concerts or a farmer’s market. If the revenue didn’g arrive as expected, the CDA would levy a specialk assessment on its members to pay back the Although tax incrementfinancing (TIF) is a commonlt used economic development tool, it wouldc be the first such TIF project in Fairfaz County.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment