The Chattanooga City Council will make its final vote on the proposed business improvement district Tuesday at 6 p.m. Here's what you need to know:
After a close vote to approve the district on first reading last week, the council will host a mandatory public hearing at the meeting, pursuant with Tennessee Code, followed by the second and final reading.
Nonprofit downtown redevelopment group River City Co. and business owners in the area have proposed and filed a petition to create a special property owner-funded district in Chattanooga's city center that would have access to business promotion resources, mimicking thousands of similar districts across the country.
As of last week, the special district has been approved by 60.51% of property owners representing 81.96% of the assessed value in the area of central Chattanooga, exceeding the 50% and 66.6% required by the state.
If approved, the district would provide $1 million annually to support services making the area cleaner and safer, as well as enhanced beautification and special projects.
Commercial and nonprofit landowners in the district will pay an annual assessment of 9 cents per square foot, of either the lot or building size, whichever is greater, plus $4.95 per linear foot of lot frontage. Residential property owners with townhouses or condominiums would pay a flat annual fee of $150 per unit.
With five council members voting in favor, three voting against and one abstaining during the first reading, it is unclear if the district will pass the final vote.
If the ordinance passes, this is the final step. If it fails, the ordinance could later be reintroduced, but the process would restart.
If the council were to amend the ordinance, which came up multiple times at the last meeting, the vote would be prolonged, as the amended version would start back at first reading.
The council meeting and public hearing will be held at the Chattanooga Council Building at 1000 Lindsay St. at 6 p.m. The hearing is the first item on the agenda, followed immediately by the final vote.