City Council has approved a $210 million tax increment financing (TIF) plan to support infrastructure improvements and future development at the Country Club Plaza.

The plan establishes the 47th and Broadway TIF district, which will redirect certain future tax revenues generated within the district to help fund infrastructure improvements and support the Plaza's long-term plans.

The TIF plan is part of a larger investment effort led by Gillon Property Group, the Dallas-based firm that owns the Plaza. Proposed projects include new residential units, office space, hotel accommodations and improvements to existing retail and public spaces.

How the TIF Plan Works

The plan uses a tax increment financing mechanism, which redirects certain future tax revenues generated within the designated district toward approved project costs.

The district generally encompasses the Country Club Plaza area bounded by Pennsylvania Avenue, Summit Street and Jefferson Street to the west, West 47th Street and West 46th Terrace to the north, Mill Creek Parkway to the east, and Ward Parkway to the south.

A Broader Effort

The TIF approval is one component of a larger redevelopment plan for the Country Club Plaza. In addition to the infrastructure improvements supported through the TIF, Gillon Property Group has outlined plans for additional residential, office and hotel development, along with improvements to existing properties and public spaces.

The broader effort also includes addressing aging infrastructure, including stormwater and sewer systems, sidewalks, roadways, parking facilities, utilities and street lighting.

The City Council's approval marks another step in the ongoing redevelopment process. Implementation of the TIF plan and the associated infrastructure projects will take place over time as the Plaza's broader redevelopment moves forward.