FAQs: Frequently Asked Questions
What is This About?
The City of Westwood approved a redevelopment plan for the Woodside Village project in 2011 which involved incentives outlined in the city's Economic Development Policy. These incentives included TIF (Tax Increment Financing) -- both property tax TIF and sales tax TIF -- and a CID (Community Improvement District).
Conditions have changed drastically since 2011 when the Country was still reeling from the “Great Recession”. Since then construction materials costs and property valuations have increased dramatically.Tanner & White Properties (Developer) has requested a revised new TIF Plan for the South Phase, and changes to the approved Redevelopment Agreement. This would alter the incentives for the project, and will be considered in a public hearing on October 13th, 2016 at the City Council meeting.