I cannot recommend this Road Guy Rob video enough: https://youtu.be/K1TFOK4_07s?si=IwCK4sxVgw5Konu4

TL;DW: The difference in tax revenue between a surface parking lot and a business with subterranean parking is so vast, that cities can justify using value to underwrite the loans necessary for developers to do the work. (Called "Tax Increment Financing") This model is proving extremely successful with cities that try taking it on.