Plans for the Highland Strip Improvement Project were presented to the Shelby County Commission on Wednesday by officials with the University Neighborhood Development Corp. and University of Memphis President David Rudd.
The project, which will eventually need Memphis City Council and commission approval, would utilize TIF or tax-increment financing, and garner the city and county $64 million over 20 years, Mike Kenney, UNDC chairman told the commission’s economic development and tourism committee.
Commissioners were supportive of the TIF project, which funds the ongoing development through increases in property tax revenues.
The development, Rudd said, enhances the university and makes the area more walkable and safe for students.