News Flash Home
The original item was published from 5/13/2023 2:58:00 PM to 9/20/2023 11:01:25 AM.

News Flash

Home

Posted on: May 13, 2023

[ARCHIVED] Industrial Development Board consideration on USTA tennis facility

usta


 

Southstar, LLC, operating as Spring Hill Development, LLC have requested to utilize Tax Increment Financing (TIF) for creation of mixed-use development that is intended to have as an anchor the United States Tennis Association’s (USTA) regional tennis facility.

 

To assist in facilitating this project, which will create a significant draw from outside of the city, The City of Spring Hill is considering forgoing any new property tax revenues. This is permitted in T.C.A. § 7-53-312 which authorizes cities and counties to allocate new incremental tax revenues to pay for the costs of the project to promote economic development. Attached please find the Economic Impact Plan for the Spring Hill Crossings Development Area, the Master Plan and Map of the area, and the Economic Impact Study which shows more than twice the return in tax dollars to the region over the taxes which are being forgone, In addition, the infrastructure improvements to the region by the extension of Crossings Blvd and improvements to Kedron Road will assist the region by improving traffic flow and safety. The Industrial Development Board will meet on May 9, 2023, to consider whether to favorably approve the plan and recommend to the City of Spring Hill’s Board of Mayor and Aldermen and Maury County’s County Commission that they approve the Economic Development Plan and subsequent development agreements.

Economic Impact Plan
Facebook Twitter Email