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Joint review board approves TID 30 project plan to support US Bank building conversion downtown
Summary
The board approved a draft project plan for proposed Tax Increment District (TID) 30, which would fund pay-as-you-go reimbursements for converting the US Bank building at 425 Pine Street into market-rate apartments while retaining ground-floor commercial space.
The Green Bay Joint Review Board on June 10 approved a draft project plan for proposed Tax Increment District 30 to support the conversion of the US Bank building at 425 Pine Street into 66 market-rate apartments while keeping the bank on the first floor.
Harry, a consultant with Ehlers & Associates presenting the cash-flow model, summarized the financial structure: “Pay as you go works where the city's not putting any money in upfront … the developer has to build a project, create new value and then as those incremental dollars come to the city a portion of that gets…
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