State-Thomas Tax Increment Financing (TIF) District
On December 14, 1988, City Council established the State-Thomas Tax Increment Financing (TIF) District to exist from January 1, 1989 through December 31, 2008. The State-Thomas neighborhood is north and immediately adjacent to the Central Business District (CBD). The 100-acre area includes the TIF District and 20-acre State-Thomas Historic District.
The District has been successful at utilizing TIF funded public infrastructure improvements to attract and enable private sector development. Development that has occurred in the State-Thomas TIF District has had a substantial impact on the surrounding community. When the TIF District was established, the area was 95 percent vacant. Today, most of the District is developed or under-construction with approximately 5.1 acres (6.8%, excluding right-of-way) undeveloped. The success of this District has spurred the confidence of the real estate community and has encouraged increased development activity in the “Uptown area.”