Dublin City Council is considering establishing a tax-increment financing (TIF) district “to help pay for Bridge Street District infrastructure work,” ThisWeek Community News reports. The site at the corner of Route 161 and Frantz Road is currently occupied by a closed restaurant, but “could soon host” a Home2 Hotel, according to the article. Dublin Finance Director Angel Mumma “said the site already has a TIF, the Cooker TIF, which was established in 1994” that has 14 years remaining. Mumma proposed repealing that TIF and “establishing a new one for the planned hotel.” A staff report presented to council said, “the TIF revenue generated from the (Home2 Hotel) site was intended to be utilized to help fund the city’s public infrastructure improvements in the Bridge Street District.” Current valuation of the land and vacant building is $1.2 million; with the “new TIF and development,” that valuation is estimated to increase to about $9.5 million, bringing in more income for the city and the school district.
Dublin may create new TIF for Bridge Street District infrastructure
