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Scarritt Redevelopment and Tax Deal
The historic Scarritt Building downtown is set for a major makeover into a hotel, apartments, shops, and a music venue — but the price tag is steep, with a proposed TIF plan potentially redirecting $109 million in city taxes over 23-30 years. City council members are pushing for transparency and limits on tax redirection, while developers argue the project will revitalize a neglected area and bring in new revenue. The Port Authority is also weighing in with $27 million in tax breaks, though the vote was delayed at the developer’s request. This high-stakes deal underscores the city’s struggle…
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