Mayor Mark Funkhouser has made his feelings known on the redevelopment plan of Bannister Mall and the surrounding 3 Trails Area. He's excited about the plan. But he is not going to sign off until more discussion has taken place, including the dropping of the Super TIF requirement.
Funkhouser says that the Super TIF will generate "no benefit" for the city with the use of the Super TIF. He says he wants the project to progress though, which is at least one plus. But my question is, how are you going to redevelop that area well enough without help Super TIF. Any project that would look to redevelop that entire area is likely going to need a Super TIF, it's not just this project.
Let's just forget about the fact that the Wizards are involved for a second. This is a large area of land, it's going to need quite a bit of help from city and state officials for anything to happen in this area. I grew up around this area, I went to Bannister Mall all the time as a kid, during the height of it's popularity. I saw it's hard and quick fall into oblivion. Something needs to be done, and without a Super TIF I just have trouble seeing this area being developed by any developer.
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