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Joint Review Board approves removing one parcel from TID 5 to allow Astor 1 parcel consolidation
Summary
The Tax Increment District Joint Review Board approved a minor territory amendment for TID 5 on March 11, 2025 to remove one parcel so a developer can combine two lots for the Astor 1 multifamily project; staff said a separate TIF request may follow later in 2025.
A city staff member told the Tax Increment District Joint Review Board on March 11 that the board approved a territory amendment to remove one parcel from Tax Increment District (TID) 5 — East and West Downtown — so a developer can combine two adjacent parcels and proceed with the Astor 1 multifamily project.
The change, approved by motion, removes the single parcel from TID 5 rather than adding the other parcel to the district. "We're just…
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