Black business leaders announce plan to redevelop South Memphis
Published: Sep. 24, 2020 at 7:44 PM CDT
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.
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.
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