West Columbia City Council has public hearing on “Brookland” TIF
Funding for West Columbia parking garage discussed at meeting
West Columbia City Council moved forward with a funding mechanism that will impact the Brookland development.
Council held a public hearing, Tuesday, on the Tax Increment Financing (TIF) that will pay for infrastructure improvements for the property at State and Meeting streets.
Attorney Lawrence Flynn, an expert in TIF funding, said holding the public hearing helps expedite the process so the city will be in a position to go forward once details are settled. The city still has to complete negotiations with Lexington School District 2.
Estates Management Company will develop the property, in a project dubbed “Brookland. ” It includes residential, retail and office space.
As a part of that deal, the City of West Columbia has tentatively agreed to build a parking garage at the site. The TIF – tax money directed toward a specific project – would fund that $5 million structure.