GREENFIELD — Wheels are turning on a financial plan that could make the dreams for revitalizing Greenfield’s downtown district a reality.
The Greenfield City Council Wednesday agreed to spend $20,000 toward legal and accounting services to create a downtown Tax Increment Finance district. The new TIF district would capture property taxes on future commercial development and put the money toward grants and revitalization projects.
With long-term goals of historic preservation, a Riley Literary Trail, harvest market park, sidewalk improvements, a splash pad and more, officials say this is a major financial step toward seeing those ideas to fruition.
“We want to preserve our historic buildings,” city controller Buzz Krohn told the council. “We want to spiff up the downtown, to make it an attractive place to make people want to come downtown.”
City and business officials spent eight months last year holding public meetings and ironing out a blueprint to transform the downtown district into a pedestrian-friendly urban center with greenways, parks and residential areas in themed districts. The council unanimously approved the revitalization plan last August, and also gave unanimous approval Wednesday to spending $20,000 of economic development income tax money toward a TIF district plan.