Airport Area Deep with TIFs
On the heels of yesterday’s editorial on the resurgence of activity for tax increment financing, Allegheny County Council is scheduled to debate the merits of moving forward with five TIF plans this week, four of them in the airport area.
The op-ed pointed out the qualities of the best TIF projects and from the documentation in the papers for Council it seems that all four airport-area projects will be warehouse/office/flex space and the proceeds of the financing will be directed toward infrastructure, such as environmental remediation, roads, and water, storm, and sewer projects.
The projects are expected to add about 1.8 million square feet in space at total build out. Of course, the use of tax increment financing requires the utilization of prevailing wages, which will add to the price tag of the construction.