Chattanooga Industrial Development Board Meeting - 04/20/2026

The Chattanooga Industrial Development Board held a meeting on April 20, 2026, focusing primarily on economic development and tax increment financing (TIF) projects. Key procurement-related discussions included the approval of an engagement letter to retain Stifel Nicolaus & Company as the underwriter for refinancing bonds related to the North River Access Road TIF project. This refinancing aims to provide long-term fixed-rate financing for public infrastructure improvements, with the developer responsible for underwriting fees. The board also approved an intergovernmental financial assistance agreement involving the Northgate Mall redevelopment project, which supplements property tax increment revenues with local sales tax revenues to support infrastructure costs. Additionally, the board authorized a small business incentive grant of $9,174 to Caliboo Investments LLC, a local paper products manufacturer, to support business growth and job creation. These actions reflect ongoing efforts to facilitate redevelopment through public-private partnerships and targeted financial incentives.