EDGE President and CEO Reid Dulberger said the organization worked diligently last year to ensure that we did not lose the momentum.
“To be among the top 25 economic development organizations in the nation for the second year in a row is an honor and highlights EDGE’s commitment to Memphis and Shelby County, he said in a statement.
Chamber President and CEO Beverly Robertson said economic development is a team sport. In a year that was filled with so many hard challenges, the Mac Conway award recognizes how this team fought hard for Memphis to be the chosen city for businesses to grow and expand, she said. More importantly, we worked together to bring jobs to the citizens of Memphis and Shelby County, ultimately improving the quality of life for over 3,000 families.
About $469,000 worth of projects has already been completed. That includes some crosswalk improvements, installation of parking lot lighting and installation of rumble strips.
The district is centered around Highland, stretching as far north as Poplar Avenue and south just past Park Avenue. The district was approved by the Economic Development Growth Engine for Memphis and Shelby County in September 2016 to generate revenue for infrastructure improvements meant to draw more residents including U of M students and faculty and businesses to the area.
In 2016, it was estimated the TIF would generate about $21 million over 20 years. The district gets 75% of the increased tax revenue generated by the TIF. The City of Memphis and Shelby County continue to get all of the pre-TIF base taxes.
Correction: This story has been updated to clarify the separate timelines for the Tennessee Valley Authority to dispose of coal ash at the Allen Fossil Plant and remediation of the plant itself.
U.S. Rep. Steve Cohen took aim at the lingering coal ash in his district this week, targeting the pollution that is the byproduct of coal-fired power plants in Memphis and across the country.
Cohen introduced the Ensuring the Safe Disposal of Coal Ash Act this week, a move that could help strengthen provisions of the Clean Future Act, a bill introduced this year that is aimed at reducing carbon dioxide emissions and includes measures intended to speed up coal ash clean-up and set further standards for it.
Almost five years after plans for a tax-increment financing district meant to revitalize the Highland strip near the University of Memphis was approved, TIF administrators noticed a problem: They weren t getting all the money they had projected.
Cody Fletcher, executive director of the University Neighborhoods Development Corporation, a nonprofit that co-administers the TIF district, said as he and other officials were reviewing the income that flowed into TIF coffers in 2018, 2019 and 2020, they noticed a number of parcels originally intended to be in the district weren t. We basically identified the fact that it wasn t performing exactly where it should be, he said. We came to realize the reason for that is there are 645 parcels in this TIF. Somehow in the creation of the TIF, there were 68 parcels that were included in the map. but they were not included in the actual list of parcels.
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