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City to consider developer agreement incentives for multifamily project; commissioners ask about downtown parking
Summary
Staff presented a developer agreement for Carl Winter Haven LLC proposing an 81-unit multifamily building with ground-floor commercial space and a tax-increment rebate schedule; commissioners raised concerns about whether the on-site parking and shared parking agreements will adequately serve residents and nearby businesses.
City staff presented a developer agreement for Carl Winter Haven LLC for a proposed multifamily development at the corner of Magnolia Avenue and Third Street Southwest. The site plan shown to the commission indicated roughly 81 residential units with a small commercial footprint on the ground floor.
Incentives described by staff The developer would receive a tax-increment financed rebate of 90 percent of the project's generated tax increment for the first 10 years, 75 percent for years 11 through 15, and 65…
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