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Council approves predevelopment agreement for 60‑unit affordable family apartments
Summary
The Marshall City Council approved a predevelopment agreement with Tapestry Companies for a proposed 60‑unit family apartment complex aimed at households at or below 50% of area median income; the developer will apply for Low‑Income Housing Tax Credits and use a mix of local housing aid and city economic development funds as incentives.
The Marshall City Council approved an updated predevelopment agreement with Tapestry Companies for a proposed 60‑unit affordable family apartment complex targeted at families earning no more than 50% of the area median income.
Lauren Deitz, economic development director, told the council the project will include one‑ to four‑bedroom units and has been revised after prior applications to the Minnesota Housing Finance Agency’s Low‑Income Housing Tax Credit (LIHTC) program. “Tapestry Companies is proposing a 60 unit…
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