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City approves nonbinding MOU to explore TIF support for HME Companies' Block 3 project
2669005 · March 18, 2025
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Summary
The council approved a memorandum of understanding to work with HME Companies on evaluating a possible tax-increment financing (TIF) district for a proposed roughly 135-unit multifamily development on Block 3 of the Jack Paul Addition; the MOU is nonbinding and does not commit the city to a TIF amount.
The Vermillion City Council on Monday approved a nonbinding memorandum of understanding (MOU) to work with HME Companies as the developer explores tax-increment financing (TIF) for a proposed multifamily development on Block 3 of the Jack Paul Addition.
City…
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