With the Tax Increment Financing of the O Street Market Redevelopment finally going through earlier this month, it's about time to talk about what exactly it means for our community (or doesn't mean, for that matter).
For sure there will now be 35 million dollars dedicated toward making the market happen. That money will be debt for now, to be payed back with the property taxes brought in as the area gentrifies. There's a small debate to be had about the TIF method of rebuilding, but we'll put that aside for another time.
With the market will come a few new residential developments--a hotel,
George Jones, our Executive Director, has been an enthusiastic supporter of the O Street Market development.