Thu
Aug 28 2014
10:40 am

What: Public hearing on Cumberland redevelopment area
When: Thursday, September 4, 2014 - 5:30pm
Where: UT Federal Credit Union, 2100 White Ave.

KCDC is holding a public hearing on a proposal to establish a Cumberland Ave. redevelopment area to provide tax increment funding for public infrastructure in the area. Details in the press release after the break...

City press release

What: A public hearing on a Cumberland Avenue redevelopment area plan

When: 5:30 p.m. Thursday, Sept. 4

Where: UT Federal Credit Union, 2100 White Ave.

Who: Knoxville’s Community Development Corp. (KCDC), acting on behalf of the City of Knoxville and City Council, is seeking public input on a proposal to establish a redevelopment area around Cumberland Avenue as a step toward financing public infrastructure.

City officials are exploring with KCDC the option of creating a redevelopment area – generally bounded by White Avenue, 17th Street, Lake Avenue and West Volunteer Boulevard – that would benefit from the new tax increment generated by projects in the area.

In this plan, revenue would not go toward private project financing; rather, as the area redevelops and property taxes rise, the increase in revenue would go toward infrastructure improvements in the area.

One need that’s been identified by both planners and City officials: public parking.

Currently, about 25 percent of the redevelopment area is used for parking. But, according to a draft of a proposal for the redevelopment area, parking around Cumberland Avenue “will need to evolve beyond single-purpose reserved parking that is uncoordinated and fragmented.” City officials have said a public garage is needed to support commercial and residential growth along the Cumberland Avenue Corridor.

Here’s a draft of the proposal: http://www.kcdc.org/Libraries/Redevelopment_Plans/Draft_Cumberland_Avenue_Redevelopment_Plan.sflb.ashx

Anyone needing a disability accommodation in order to attend the meeting should contact City ADA Coordinator Stephanie Brewer Cook in advance of the meeting at 865-215-2034, or email her at scook@cityofknoxville.org.

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