There are 32 article(s) tagged Center City Revenue Finance Corp.:

• September 2022

  • DMC board approves Grand Hyatt, One Beale financing

    On Tuesday, Center City Revenue Finance Corp. board members approved financing for the Grand Hyatt hotel and final phase of One Beale development.

    By Neil Strebig September 13, 2022

  • Downtown board approves PILOTs for Greyhound Complex, Crump Blvd. development

    Discussion of $226 million Sheraton renovation project was delayed to Oct. 11. 

    By Neil Strebig September 13, 2022

  • $226M renovation, 300-room expansion proposed for Downtown Sheraton

    The existing restaurants and bars will be converted into an upscale Memphis-themed sports bar. Additionally, an event deck will be built on the second floor, according to the application.

    By Neil Strebig September 08, 2022

  • Downtown board proposes One Beale resolution for $95M in bonds

    The Center City Revenue Finance Corp. will weigh in on a One Beale financing resolution during its Sept. 13 meeting. 

    By Neil Strebig September 07, 2022

• August 2022

  • Historic Dermon Building renovation includes apartments, outdoor pool, dog park

    Developers Nick and Sam Patel plan to renovate the historic 10-story Dermon Building Downtown into 103 apartment units. 

    By Neil Strebig August 05, 2022

• June 2022

  • 20-year PILOT approved for $79.6M Rise on the Ravine project

    Center City Revenue Finance Corp. board members approved the payment-in-lieu-of-taxes for the mixed-use development in the Edge District. 

    By Neil Strebig June 19, 2022

• May 2022

  • Tourism bonds approved for Grand Hyatt, One Beale

    While the total value of the bonds is still undetermined, Chance Carlisle of Carlisle Corp. expects the value to be around $75 million.

    By Neil Strebig May 10, 2022

• April 2022

  • Downtown project gets PILOT extension as developers work on funding

    Located Downtown at 251 Union Ave. across from AutoZone Park, The Walk was originally awarded a 30-year, $741 million PILOT in August 2020.

    By Neil Strebig April 12, 2022

• November 2021

  • The Peabody to become special tourism tax zone

    The creation of the Peabody Hotel Surcharge will finance capital investments to the property totaling more than $125 million over the next 30 years for long-term preservation. 

    By Rob Moore November 09, 2021

• October 2021

  • Downtown board approves consultant to review tax incentive policy

    St. Louis, Missouri-based PGAV Planners will determine if the PILOT program is delivering the desired results of growing the tax base and helping projects happen that couldn’t otherwise. 

    By Rob Moore October 12, 2021

  • Downtown board reexamines PILOT program, considers new applicant

    At its Oct. 12 meeting, the Center City Revenue Finance Corp. is set to approve a plan for reviewing its PILOT program, and it will hear a new PILOT request for a Medical District development. 

    By Rob Moore October 12, 2021

• March 2021

  • ‘Bold’ purchase of city’s tallest building approved

    “This will allow us to get rid of a black eye that exists right in the heart of our Downtown,” said the DMC’s interim president.

    By Tom Bailey March 09, 2021

• February 2021

  • Goal: Give smallest tax incentives that still spur projects Downtown

    Center City Revenue Finance Corp. board members are to review its policies for giving tax incentives. Possible changes may include syncing incentives to existing growth plans, simplifying the policy, and tightening the amount of incentives without slowing development.

    By Tom Bailey February 15, 2021

  • Developer plans to renovate blighted, vacant apartments near Downtown

    Stella Maris Development owner Amin Zaki plans to revive apartments at 1030 Poplar. They’ve been vacant and deteriorating more than five years. 

    By Tom Bailey February 03, 2021

• January 2021

  • Central Yards receives tax incentive

    The Center City Revenue Finance Corp. board voted 7-0 to approve a 20-year incentive that will save developers of the $77 million Central Yards project $23 million in property taxes.

    By Tom Bailey January 13, 2021

  • Central Yards project seeks $23M tax incentive

    Even with the tax-break incentive, Central Yards would still generate $7.7 million more in local tax revenues over 20 years than the same property would generate without the mixed-use development, according to the Downtown Memphis Commission.

    By Tom Bailey January 06, 2021

• December 2020

  • Downtown board approves public support for One Beale’s Grand Hyatt

    The Center City Revenue Finance Corp. voted unanimously in support of $129.5 million worth of public incentives for One Beale’s fourth phase, plus a 5 percent tax surcharge on One Beale customers that is projected to generate another $139 million over 30 years.

    By Tom Bailey December 09, 2020

• November 2020

  • No changes planned for The Citizen

    The partnership that built The Citizen in the heart of Midtown is selling it to a Carlisle Corp. entity, but no changes in operations are planned, a Downtown agency was told.

    By Tom Bailey November 10, 2020

  • Downtown’s $62M ‘mobility’ plan moves forward

    Despite a few questions, the Center City Revenue Finance Corp. board voted unanimously to fund a $62 million plan to improve parking, walking and cycling Downtown. The City Council and County Commission still must approve the project.

    By Tom Bailey November 10, 2020

• September 2020

  • Cooper-Young apartments getting new owner, new name

    The Center City Revenue Finance Corp. transferred a tax-break incentive for the building at 999 S. Cooper to Jeffrey Little, who plans to rename the mixed-use property The Flats at Cooper-Young.

    By Tom Bailey September 08, 2020

• August 2020

  • Downtown agency approves changes in how public money will help build The Walk

    The Center City Revenue Finance Corp. approved 30 years of property tax savings that will fund $134.6 million of the $741 million development’s costs, and a 5% tourism surcharge that is estimated to provide $20.8 million for the project. 

    By Tom Bailey August 11, 2020

  • The Walk, formerly Union Row, seeks different tax incentives

    Developers cite the economic effects of the pandemic in seeking different and new tax incentives. The first phase of the development is estimated to cost $741 million.

    By Tom Bailey August 10, 2020

  • Apartments with a crust of retail proposed next to Gus’s chicken

    The $30 million project would renovate and convert a 120-year-old warehouse at Front and Vance, create 165 apartment units, 10,000 square feet of commercial space, and 100 parking spaces.

    By Tom Bailey August 03, 2020

• June 2020

  • New apartments, retail proposed next to Overton Square

    The mixed-use development comprises 29 apartment units and nearly 4,000 square feet of retail space.

    By Tom Bailey June 02, 2020

• January 2020

  • Retail-ready spaces coming Downtown

    The Downtown Memphis Commission staff particularly liked that the three ground-floor retail bays are virtually ready now for tenants.

    By Tom Bailey January 14, 2020