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Council reviews Foxtail Meadows amendment that shifts units to lower income tiers, adds $301,440 in TIF
Summary
The Lincoln City Council heard a presentation July 14 on amendments to the Foxtail Meadows redevelopment plan that lower some units’ AMI targets, add more deeply affordable units and request an additional $301,440 in tax increment financing for Phase 1 subphases.
The Lincoln City Council heard a detailed presentation July 14 on amendments to the Foxtail Meadows redevelopment plan that lower some units’ area median income (AMI) targets, increase the number of deeply affordable rental units and add $301,440 in tax increment financing (TIF) for Phase 1 subphases.
Ernie Castillo, urban development department, told council members the overall redevelopment plan still aims for 650 total units, of which 647 are designated affordable under the plan’s existing framework. The current amendment adds Phase 2 and Phase 3 to the plan area and adjusts Phase 1 subphases 1C and 1D, shifting affordability levels to include more units at 60% AMI and at 80% and 90% AMI levels.
The change matters because the amendment increases the number of lower‑income units and reconfigures how Phase 1 is financed.…
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