Published: Mar. 03, 2022, 12:17 p.m.
RH, formerly known as Restoration Hardware and based in Corte Madera, Calif., seeks to build a $20 million facility at 4009 Orange Place. It would replace Slyman’s Tavern on that 2.4-acre site along Interstate 271. “This is different from some other TIFs where the council can approve a TIF without having any ownership interest in the property,” Finley said.
“The TIF itself will help to pay for the costs of the development of the parcel,” he said. “So the demolition of the existing structure, the preparation of the site for the erection of the new building and the building itself all can be paid for from this type of TIF.” “It used to be in Warrensville Township before it was annexed and acquired by Orange in the 1980s,” she said.
This facility is a gallery, no products will be sold on site. How does a property qualify for TIF if it isn’t increasing tax collection? In reality it’s decreasing taxes by removing an revenue producing building on the site