Metro Nashville officials have imposed a moratorium on its Tax Increment Financing practices, which occur when government officials award special tax incentives to real estate developers to spruce up supposedly blighted parts of town. This practice goes on nationwide, as The Tennessee Star reported. Critics say TIF continues to benefit areas that no longer suffer from blight — with Nashville’s Gulch area as one example. For six months, and while the moratorium is in effect, a seven-member panel will study how Metro officials can use and implement TIF. Specifically, they will evaluate how to use TIF “in a more transparent, equitable, effective and understandable manner,” said Metro Council Member Bob Mendes, in an email to The Star. Two members of Nashville’s Metro Housing and Development Agency will appoint two of the panel’s seven members. Mayor David Briley will appoint two more. Members of the Metro Council, meanwhile, will appoint the remaining three, Mendes said. Members of the MDHA oversee TIF and select who gets it. “My intention was to have a mix of perspectives,” Mendes said. “So, for example, I would expect that the MDHA appointees would be involved in Tax Increment Financing decisions. The goal is to achieve balance…
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