By Cecilia Chan | Gilbert Sun News
Gilbert’s longtime investment in the Heritage District is paying off: with every $1 the town has spent, there’s a $1.47 in return.
The Town in 1989 designated 168 acres downtown as a redevelopment area in need of revitalization and substantial growth has been occurring every year in the district since 2007.
“There was an increase in the last 10 years of 198% for sale-tax collection in the area,” said Sydney Bethel, redevelopment specialist. “This actually outpaced the town-wide, sales-tax collection of 131% over the same period, which is very exciting.”
When it comes to sales tax, the Heritage District accounted for approximately 1% – or $1.2 million – of the Town’s total sales tax collected for fiscal year 2021, Bethel said told the Redevelopment Commission in a recent overview of the area.
