City Council Approves TIF For $102 Million Project At Former Dupont Site

  • Tuesday, May 17, 2022

The City Council on Tuesday night approved a TIF (Tax Increment Financing) on a $102 million project at the former Dupont site in Hixson.

The city Industrial Development Board earlier gave its okay.

Jermaine Freeman, city economic development administrator, earlier said it would be an $8.7 million TIF - with fees $9.9 million.

Under a TIF, the government reimburses a private developer as incremental taxes are generated. IF funds are generated from the difference between the value of an improved property and the frozen base value

The group Access Road LLC led by Matt Philllips is planning to erect four buildings at the site containing 800,000 square feet of Class A industrial space.

Mr. Freeman said there is a shortage of such space.

The project will include improvements to North Access Road.

The property is already zoned M-1, it was noted.

Mr. Freeman said a side benefit of the project is that the developers will provide an easement along the adjacent Tennessee River for an extension of the North Chickamauga Creek Greenway in the direction of downtown Chattanooga.

He said the city would eventually build the new trail.

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