Black business leaders announce plan to redevelop South Memphis

MEMPHIS, Tenn. (WMC) - A new initiative is being launched to redevelop South Memphis.

Southeast Regional Development Corporation (SRDC) is partnering with the Shelby County Mayor’s Office in submitting a holistic redevelopment plan and application for a community-driven Tax Increment Financing (TIF) district in the area.

I am pleased to be a part of reinvesting in the South Memphis community. pic.twitter.com/CDkQbYIpDw
— Mayor Lee Harris (@MayorLeeHarris) September 24, 2020

This means that tax revenue generated by residents will be reinvested in South Memphis to address crumbling infrastructure, depreciating neighborhood values, and educational supports for younger residents.