City Council Vote to Focus On Highland Strip Project

Memphis City Council members vote Tuesday, Oct. 18, on an economic impact plan for the Highland Strip area that sets the stage for the tax increment financing district to finance infrastructure changes in the private development hot spot.

The council meets at 3:30 p.m. at City Hall, 125 N. Main St. Follow the meeting @tdnpols,, for live coverage and updates from committee sessions earlier in the council day.

The TIF area collects an increment of the increase in property taxes paid in a specific area through the increase in property value and dedicates that amount to public infrastructure improvements.

In the case of the University Neighborhood District, the area is 601 parcels along and near Highland Avenue on the western border of the University of Memphis campus. The property tax increment comes to an estimated $83 million going back into the district over a 20-year period, according to Mike Keaney, president of the University Neighborhood Development Corporation.

Read more in the Memphis Daily News