Council Authorizes Filing of TIF Application for Angliana Development

“Lexington council to file financing application for Angliana development”

Excerpt from Kentucky.com, posted Dec. 4, 2009
By Beverly Fortune, bfortune@herald-leader.com

A proposed $70 million development on Angliana Avenue that would include a 12-screen movie theater, bowling alley, restaurants, shops and apartments will become the city’s third tax-increment financing project.

At its meeting Thursday night, the Urban County Council authorized the city to file a TIF application with the state Economic Development Cabinet on behalf of ShowProp.

ShowProp is requesting $36 million in TIF funds to pay for infrastructure improvements, said attorney Chris Westover, who represents the developer. Under the TIF arrangement, the money would be repaid with new tax money generated by the development…Read more at Kentucky.com

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