Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Victoria council calls public hearing on TIF for 62‑unit Marsh Hollow apartments with 33 affordable units
Summary
The City of Victoria voted to call a public hearing and begin the statutory process to consider a tax increment financing (TIF) district to help fund a 62‑unit apartment project by Inland Development Partners that would include 33 units restricted to households at or below 50% of area median income (AMI).
The City of Victoria on Monday voted to call a public hearing and begin the statutory process to consider a tax increment financing plan for a proposed 62‑unit apartment project by Inland Development Partners in the Marsh Hollow area.
The developer’s proposal would include 29 market‑rate units and 33 units for households earning up to 50% of the area median income, council members were told. The council approved a resolution calling the development program for Municipal Development District Number 1 and a tax increment financing plan for Tax Increment Financing District 1‑10, sending the matter into the required public‑notice and hearing stages.
Why it matters: City staff and the developer said the TIF tool is intended to make the affordable portion of the project feasible. If the council later approves a TIF plan, property tax increments generated by the project — not the city’s general fund — would be used on a pay‑as‑you‑go basis to reimburse eligible project costs.
Community and Economic Development Director Jen Brewington introduced the application and turned the financial explanation over to Tammy Amdahl of Northland…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
