Ely council approves TIF-backed development resolution with Main Street Legacy
The Ely City Council voted unanimously to approve a resolution authorizing a development agreement with Main Street Legacy that pledges certain tax-increment revenues and allows the city to recoup pre-development costs; an ordinance change will follow.
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The Ely City Council unanimously approved a resolution authorizing a development agreement with Main Street Legacy that would pledge tax-increment revenues to repay the developer and authorize annual TIF appropriations.
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