Trevor Miller says the roads, power lines and other infrastructure near his business on MacArthur Boulevard are in need of repair. Miller, who owns A Cut Above Barber Shop, 1812 S. MacArthur Blvd., was one of four people who spoke during a public hearing Monday on the city’s plans to redevelop a struggling section of MacArthur Boulevard using tax increment financing. “I’m all for it,” he said. “I can’t wait to see it get started.”
About 20 people attended the 20-minute hearing at Municipal Center West — one of the largest crowds for a public hearing that Mike Farmer, the city’s director of planning and economic development, can remember.
“It’s fabulous to see the citizen interest,” Farmer said. “And we’re excited about the prospects for MacArthur Boulevard and a new proposed TIF.”
The city has seven TIF districts, which are intended to help spur economic growth in blighted or underdeveloped areas.
When the city council designates an area as a TIF district, the current value of the property is established as the “base amount.” Throughout the life of the district, taxes are still paid to various taxing agencies on this base amount. But any increase in the property value over the base — the “increment” in tax increment financing — is set aside to pay for additional improvements inside the same TIF district. The money can’t be spent outside the area.
In its 77-page report, PGAV Planners estimates that redeveloping MacArthur from South Grand to Summit avenues — the area eyed for the new TIF — could cost $27.5 million. Most of that eventually could be paid for through the district. Consultants suggested a redevelopment plan consisting of both private and public investments, ranging from fixing streets and sidewalks to rehabilitating existing properties and demolishing others. The 106-acre study area includes a total of 183 parcels, of which only four are vacant land.
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Ward 7 Ald. Joe McMenamin said there is “overwhelming support within Ward 7 and along the boulevard.”
What’s next
Aldermen will debate three different proposals creating a tax increment finance district along MacArthur Boulevard, along with a plan to redevelop the area next month.
A final vote could come Feb. 21. Council debate and a vote on creating a new TIF district, along with a plan to redevelop the area, are scheduled for next month.
Joe McMenamin for Ward 7 