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City Seeking Certain Exemption From Normal TIF Procedures For Stadium Project

  • Wednesday, July 20, 2022

The city is seeking exemption from certain procedures normally required in setting up a Tax Increment Financing District (TIF) in relation to the stadium project on the Southside.

The City Council is due to vote on the request next Tuesday.

The request is to waive several steps of the process including the application, application fee, and review committee.

The resolution would authorize "the exemption of the City of Chattanooga and its affiliated boards and commissions from certain procedures of the application process for Tax Increment Financing when the City of Chattanooga and its affiliated boards and commissions initiate the TIF approval process, because the City of Chattanooga and its affiliated boards and commissions are seeking approval for Tax Increment Financing related to the redevelopment of the South Broad District, and following all procedures for Tax Increment Financing required by the State of Tennessee."

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