UPDATED: Macy's TIF agreement moving forward after Upper Arlington school board approval
ThisWeek group
Upper Arlington City Council will seek a tax-increment-financing deal to allow Continental Real Estate Cos. to forgo upwards of $17.25 million in property taxes to redevelop the Macy’s site at Kingsdale Shopping Center.
City Council members working with Upper Arlington administrators say the arrangement is necessary to proceed with the kind of development the city wants and to potentially land a favored place to build a community center.
The deal could be approved in January. It would allow the developer to use money otherwise earmarked for Upper Arlington Schools to construct a parking garage and other infrastructure.