Alexandria flexed its growth muscles at Monday night’s city council meeting. Five major projects, including a new veterans outpatient center, received green lights. Tax-increment financing for a housing project, however, hit a wall.
New housing-related developments in Alexandria won’t be able to seek a tax break other projects have been getting – at least for a while.
At its meeting Monday night, the Alexandria City Council voted to suspend considering any more housing-related tax increment financing (TIF) applications until staff and legal counsel has had time to review and recommend policy changes.
That process is expected to take between 30 and 60 days, according to Jason Murray, director of the Alexandria Area Economic Development Commission.
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