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Originally Posted by _Q_
I think I speak for several on this board by saying, what is a CRL and how does it work?
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A Community Revitalization Levy funded the East village, if that helps.
Essentially, the city would fund a loan to build infrastructure, and the loan would be paid back by the future property tax growth in the area surrounding.
For example, if the arena is built in the west village using CRL money, you would see hotels and condos, etc growing up around the new arena, which would mean that more property taxes would be earned in the area. The property tax increase in the area pays back the loan.
The structure is useful for areas that are tough to get to redevelop without public help - such and East Village was, and West Village will be.