Wednesday, November 08, 2017 12:47 AM

M.L. KING BOULEVARD EXTENSION PLAN WINS FIRST APPROVAL

Gallery: M.L. King extension wins 1st approval +4 more photos A proposal to extend M.L. King Boulevard to the riverfront and spur new nearby apartments - helped by a tax-incentive plan rarely used in Chattanooga - has cleared its first hurdle. The city's Industrial Development Board on Tuesday approved an application for the project that includes a $4 million tax-increment financing proposal to build the road extension and make other public improvements, sending it on to the City Council for its initial review. "We'll get a new amazing connection that was in the initial plan for the street grid of the city more than 100 years ago," Chattanooga Mayor Andy Berke said about the project. Berke said that all the extra property taxes generated by the planned apartments and other developments would go toward paying the cost of the new road, parking lot and other physical improvements to the site, which is adjacent to the Riverwalk's Blue Goose Hollow trailhead. Related Article Mayors tout M.L. King extension to Chattanooga's riverfront Read more Aaron White, a principal in the Cameron Harbor development going up along the Tennessee River, said the proposed road is taking up its best property on the site. ...

News source: Times Free Press

See also: Grace Frank Group