City Council Will Ensure Equitable Distribution of TIF Overlay District Revenue for Cleveland's Neighborhoods

Feb 05, 2024

Statement from Council President Blaine A. Griffin

City Council Will Ensure Equitable Distribution of TIF Overlay District Revenue for Cleveland's Neighborhoods

Cleveland, OH (February 5, 2024) - The proposed Tax Increment Finance (TIF) district legislation currently under review by Cleveland City Council holds tremendous potential for Cleveland. It is estimated to generate between $3.5 billion and $7.5 billion in new revenue over the next 42 years. To say this legislation could be a game-changer for our city would be an understatement. As Council President, I will ensure every neighborhood in Cleveland reaps the benefits of this transformational revenue. 

As the body responsible for spending oversight, Council will take proactive measures to revise the legislation, guaranteeing that Cleveland reaches the full potential of the TIF Overlay District AND that every neighborhood benefits both immediately and continuously. Our first legislative revision recommends that every neighborhood, with special emphasis on our middle, edge, and distressed neighborhoods, receive at least 50% of the proceeds. 

We intend for these funds to be allocated to pressing needs such as street repairs, utility infrastructure, recreation centers, parks, and other legally acceptable needs as informed by Council, resident feedback, and stakeholder input. By investing in these vital areas, we will uplift our neighborhoods and enhance the quality of life for all Clevelanders. 

To ensure transparency and community engagement, the legislation will be heard in the Development, Planning, and Sustainability Committee, chaired by Councilman Anthony T. Hairston (Ward 10) once we complete the City's annual budget hearings in late February. We invite residents from Collinwood to West Park, Lee-Harvard to Edgewater, and everyone in between to join us in this exciting and transformative process. 

Council is fully committed to keeping the public informed throughout the revision, hearing, and voting processes. We will proactively share updates and encourage community participation as we work towards TIF Overlay District legislation that benefits all of Cleveland. 

The potential of the TIF legislation is immense, and we must seize this opportunity to bring positive change to our city. By ensuring equitable distribution and focusing on the needs of every neighborhood, we can create a brighter and more prosperous future for Cleveland. 

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