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MDC confirms Oxford Row EDA and pledges TIF to bond payments for Center Township project
Summary
The Metropolitan Development Commission approved the creation of the Oxford Row Economic Development Area, a developer-backed mixed-use project with 46 rental units and 5,000 square feet of retail, and a companion resolution pledging tax-increment financing to pay certain economic development bonds for the project.
The Metropolitan Development Commission on Thursday approved a confirmatory resolution establishing the Oxford Row Economic Development Area and a companion resolution pledging tax-increment financing (TIF) from that allocation area toward the payment of certain economic development revenue bonds.
Emily Stump, DMD administrator for economic incentives, told the commission the Oxford Row site sits along 20th and Delaware streets adjacent to Goose the Market. The mixed-use development will add 46 rental units and roughly 5,000 square feet of retail space; the developer committed that 10% of the units will be at or below 50% of area median income (AMI). Stump said staff approves the project.
At the meeting, DMD director Megan Vukasic explained the two resolutions’ relationship: the first petition establishes the TIF district and the second pledges the tax increment from that established TIF district to cover debt service on bonds issued for the project. “The first petition was for the establishment of the TIF area itself,” Vukasic said. “The second resolution is for pledging of the bonds coming from that tax increment in that established TIF district.”
Both resolutions were moved, seconded and approved by roll call. The confirmatory resolution (2025 E 020) passed 7-0. The TIF pledge resolution (2025 E 021) also passed 7-0.
Why it matters: the approvals clear the way for the developer to use tax increment from the Oxford Row allocation area as security for development bonds. The project is presented as offering new rental housing and retail space in Council District 12, and a small portion of units are targeted for lower-income renters per the developer’s commitment.
The commission did not receive public comments for the item during the hearing. Staff characterized the resolutions as linked steps in the economic-development financing process rather than standalone funding appropriations by the commission.
Next steps: with the TIF area established and the pledge approved, DMD and the developer will proceed with bond structuring and implementation steps required to deliver the project, subject to any other statutory or council approvals.
