NewsChannel 5 Investigates took a look into the Nashville tax break plan called "Tax Increment Financing," and found the city wasn't using the TIF money as originally stated.
It allows the city to offer tax breaks to corporations who develop in portions of downtown Nashville that were deemed "slum areas" and "blighted" in the 1970s.
Our NewsChannel 5 investigation discovered that, long after TIF loans are paid off, Metro does not use the excess property tax money to pay for schools and city services. Instead, it sends the money to Metro's development agency to pay for more growth.
Here are some of the stories from over the years:
TIF Tax Breaks May Get More Oversight From New Council Members
NC5 Investigation Prompts Proposed Changes To TIF