CHATTANOOGA, Tenn. (WDEF)- There’s an update on the economic output of two anticipated developments in downtown Chattanooga.
According to the city of Chattanooga at this month’s Industrial Development Board meeting, the South Broad Stadium tax increment financing District has already generated over four hundred thousand dollars in revenue.
This as the majority of the district has not yet been developed.
However, The Bend, a private development on the Westside, has not generated a single cent of tax revenue.
This is because infrastructure is still being built on that site, leading to questions if the project is moving quickly enough.
Board member Jimmy Rogers asked, “The Bend project was announced before the stadium, and yet, does the administration have concerns over the status of the Bend development?”
Chattanooga economic advisor Cherita Allen said, “You know what, no? I think what is happening is, development will happen, it is taking longer to happen.”
The I-B also approved one point five million dollars to go to the One Westside project to make up for federal funds that were pulled due to DOGE related cuts.