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Developers seek SDC buy-down for Timber Lofts; council signals $2.75 ceiling, declines permit subsidy
5056406 · June 2, 2025
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Summary
A market‑rate, four‑story mixed-use proposal at Fifth and Forest requested an SDC and permit subsidy; councilors indicated support for an SDC buy‑down capped at $2.75 but declined to cover permit fees.
Developers seeking to build a four‑story mixed-use project at Fifth and Forest (market-rate apartments over ground-floor commercial) requested a subsidy package to make the proposal feasible.
Staff estimated system-development charges (SDCs) of roughly $273,000 and permit fees of about $100,000 for the…
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