Location: Northeast and southeast corners of the intersection at Central and Oliver
Use: Land acquisition, infrastructure and construction of retail and office buildings within district
Term: 22 years
Active date of tax: April 2012
Expiration: April 2034
Maximum Reimbursement: $12,500,000
The City Council approved the Central and Oliver CID on August 10, 2010 to facilitate the acquisition of land, infrastructure improvements and construction of retail and office buildings within the district. The 1% additional sales tax will be used to reimburse a portion of the developer's costs of land and construction. CID sales tax will be collected for up to 22 years or until a maximum amount of $12,500,000 is collected.