Bass, Berry & Sims attorneys Mark Mamantov and Jay Moneyhun provided insight on the use of public incentives for retail developments in an article published in the Nashville Business Journal. In addition to traditional incentives which add to long-term property tax revenues, Tennessee has two main types of incentives for retail developments, including tax-increment financing (TIF) and traditional property tax abatement, or PILOT (payment in lieu of tax) transactions. “[Smaller counties] are utilizing or considering such incentives to compete and preserve their retail tax base,” said Mark and Jay. “It’s important for leaders in larger counties to be aware of this trend and consider how it might impact their long-term community planning.”
The full article, “Public Incentives are the New Normal in Tennessee Retail Development,” was published by the Nashville Business Journal on July 28, 2017, and is available online.