Bibb's Proposed 'Shore to Core' Downtown TIF Could Collect Billions. Council Wants Half to Go to Neighborhoods

Blaine Griffin at city hall Credit: Photo by Emanuel Wallace

Mayor Justin Bibb has always said the proposed “Shore to Core to Shore” overlay TIF, which would allow the city to collect an estimated $3.5 to $7.5 billion in property tax over the next four decades to seed major projects including the lake and riverfronts, would benefit not just downtown but Cleveland’s neighborhoods as well.

Council president Blaine Griffin wants to put an exact number on that financial benefit: 50% of whatever is captured.

Griffin yesterday announced council will “take proactive measures to revise the legislation,” which recently passed through City Planning Commission, and that will include a provision to direct half the money collected to neighborhoods, with “special emphasis on our middle, edge, and distressed” ones.

“To say this legislation could be a game-changer for our city would be an understatemen,” he said. “As Council President, I will ensure every neighborhood in Cleveland reaps the benefits of this transformational revenue.”

Bibb’s administration, in selling the proposal, has said downtown property owners could see anywhere from a 3.5 percent to a 5.5 percent annual jump in property values if the city’s mega projects on the river and lake are completed.

The TIF would collect the difference between current property taxes and the increased rates and divert those funds from the usual destinations — the county library system, Tri-C, etc. — into a fund controlled by Cleveland. CMSD’s funding would not be affected.

Bibb has touted the TIF has a way to do generational work in Cleveland.

“Cleveland lacks in private investment: we’re 97 out of 100 cities in the last decade,” Jeff Epstein, the city’s Chief Integrated Development Officer, said at a plannng commission meeting, comparing Cleveland to Cincinnati and Columbus, cities that have built massive shopping centers and modern streetscapes using their own TIF districts. “Many of these cities have passed us by in terms of the pace of growth. We have to make some steps here to achieve this growth and prosperity.”

Griffin, in a statement, said council will take up discussions after budget hearings are finished later this month to ensure that the growth and prosperity are shared by all.

“The potential of the TIF legislation is immense, and we must seize this opportunity to bring positive change to our city,” he said. “By ensuring equitable distribution and focusing on the needs of every neighborhood, we can create a brighter and more prosperous future for Cleveland.”

Cuyahoga County Executive Chris Ronayne has said he’s had good discussions with the city about the TIF, which would impact funding for some county services. He’d like to see Cleveland direct some money toward resources that serve the county as a whole.

“I wonder if we can appeal to them to help with some of the significant potential capital projects that we have,” he told Scene. “They are a partner, frankly, in terms of utilization at the courthouse. It’s not just a county courthouse. It serves a big footprint, including the city of Cleveland. So I want to keep their mind open to, hey, can some of this be used in projects like that.”