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Wed December 11, 2013
Deadline For Distillery District Incentive Decision Set For March
Distillery District developers hoping to retain a special state incentive now have until March to gather data and create a development plan.
The city applied for and received what’s called a tax-increment financing plan, or TIF, for the Distillery District project in 2009. The TIF enabled the district to use tax dollars generated from the project to finance infrastructure improvements. But most of the plans for the $190M entertainment district, including a hotel, are still yet to be built.
Mayor Jim Gray had asked to withdraw the application, but developers asked state officials to reinstate the TIF incentive.
The incentive was originally granted in order to finance $45.8 million in public infrastructure improvements, including construction of the Town Branch Trail.