A prominently Black and low-income neighborhood in Louisville could gain a new tool for spurring local development—the law is intended also to control the effects of gentrification.

Morgan Watkins reports: "A bipartisan group of [Kentucky] lawmakers wants to boost long-term, community-driven economic development in west Louisville — a region hurt by decades' worth of disinvestment — by establishing a tax increment financing district that ensures local tax dollars are reinvested in its neighborhoods."
"A TIF district allows for current development to be financed with future tax revenues from the increases in property values, as well as in sales taxes and other kinds of taxation, that are anticipated as an area's economic revitalization unfolds," explains Watkins.
The state law proposes a 30-year TIF district for "the part of the city that stretches west of Ninth Street and north of Algonquin Parkway," according to Watkins.
According to the article, the part of the city targeted for the TIF district is home to many of the city's Black residents, many of which are low-income. The legislators hope the TIF would address problems rooted in systemic racism awhile also including safeguards against gentrification. To ensure that property taxes stay reasonable for existing residents, the legislation would cap property tax increases based on values assessed this year. The legislation also includes provisions to encourage community involvement in vetting potential development projects.
FULL STORY: Bipartisan legislative plan would create economic development district in west Louisville

Montreal Mall to Become 6,000 Housing Units
Place Versailles will be transformed into a mixed-use complex over the next 25 years.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

California High-Speed Rail's Plan to Right Itself
The railroad's new CEO thinks he can get the project back on track. The stars will need to align this summer.

Tenant Advocates: Rent Gouging Rampant After LA Wildfires
The Rent Brigade says it's found evidence of thousands of likely instances of rent gouging. In some cases, the landlords accused of exploiting the fires had made campaign donations to those responsible for enforcement.

Seattle’s Upzoning Plan is Ambitious, Light on Details
The city passed a ‘bare-bones’ framework to comply with state housing laws that paves the way for more middle housing, but the debate over how and where to build is just getting started.

DOJ Seeks to End USDOT Affirmative Action Program
The Disadvantaged Business Enterprise Program encouraged contracting with minority- and women-owned businesses in the transportation sector, where these groups are vastly underrepresented.
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