Special tax district eyed on downtown Chattanooga’s Westside

Rendering contributed by Urban Story Ventures / A 2019 rendering shows how The Bend, a planned mixed-use project off Riverfront Parkway, might develop in the future.

The Chattanooga Housing Authority is aiming to cooperate with the city and developers of The Bend mixed-use project in pursuing a special tax district to help revitalize downtown's Westside.

The housing authority board Tuesday passed a resolution authorizing the agency to work with the city and The Bend concerning a potential tax-increment financing arrangement that in many ways could be similar to one just approved for the planned new Chattanooga Lookouts stadium project.

But unlike the stadium effort in the South Broad District that was spearheaded by the city and Hamilton County, application for the tax-increment financing is expected to be done by Urban Story Ventures, the development group behind The Bend project off Riverfront Parkway.

In a statement, Urban Story Ventures said it has been working with the housing authority and the city to finalize a tax-increment financing application for submission later this week that would need local government approval.