City of Huntsville outlines proposed TIF district for downtown economic development and infrastructure projects
Published on
The City of Huntsville presented plans for a proposed tax increment financing (TIF) district, known as TIF 9, that would fund major downtown infrastructure projects.
The proposed $220 million TIF 9 would support expansion of the Von Braun Center (VBC), improvements tied to Huntsville City Schools and other public improvement projects across downtown and north Huntsville. It will provide approximately $200 million for expansion of the Von Braun Center and $20 million for four other projects. By law, the infrastructure projects would be implemented within five years.
- Von Braun Center: Construction of more than 100,000 square feet of new event and exhibit space similar in size to South Hall, along with new meeting rooms, conference and exhibit space, upgraded parking and other improvements
- North Huntsville Beltline Greenway: Design and construction, including right-of-way acquisition along with amenities such as lighting, landscape, hardscape and safety equipment.
- New Mill Creek Park (Choice Neighborhood Redevelopment): Design and construction of a new public park as part of the Mill Creek project, enclosing a drainage channel, installing park equipment and adding landscaping and lighting.
- Lowe Avenue: Road and pedestrian upgrades to support increased traffic and the planned relocation of Huntsville Junior High School.
- Renovations to former federal courthouse: Interior and ADA improvements to the historic Holmes Avenue building for future use by the Madison County Commission.
Mayor Tommy Battle said the projects represent long-term investments in public infrastructure and economic development.
“These are key infrastructure projects that will provide significant benefits to our community, both in terms of economic opportunity and quality of life,” Mayor Battle said. “The TIF is a proven, strategic financial tool the City has used to great success on multiple occasions.”
A tax increment financing district allows a city to fund infrastructure improvements using future growth in property tax revenue generated by new development within the district. Officials emphasized that a TIF does not increase property tax rates and does not reduce existing tax revenues currently going to the city, Madison County, or public schools.
The City of Huntsville has used TIF districts since 2000 to help finance public infrastructure and redevelopment projects.
The City Council is expected to vote on the TIF at its June 11 meeting.
View the TIF 9 Presentation by Urban and Economic Development Director Shane Davis