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Planning commission backs TIF redevelopment plan for Lot 6 (Tiller’s) to support 96-unit affordable project; commissioner abstains
Summary
The commission recommended approval of a redevelopment/TIF plan for a 96-unit multifamily project on Lot 6 of Tiller’s Fourth Edition, asking for $1.5 million in tax-increment financing toward $2.3 million in eligible costs; the application will go to City Council on July 15, with Commissioner Arnie recused.
The Bellevue Planning Commission voted Thursday to recommend approval of a redevelopment plan and tax-increment financing (TIF) request for a proposed 96-unit multifamily development on Lot 6, Tiller’s Fourth Edition (general location 1724 Wilshire Drive). The commission’s recommendation is based on finding the property a blighted and substandard area and the project’s conformity with state statutes on redevelopment; the recommendation will be considered by City Council at a July 15 public hearing.
Tammy Curry, planning staff, said the site is approximately 1.5 acres and that the developer estimated about $2,300,000 in TIF-eligible redevelopment costs and requested $1,500,000 in TIF assistance. The application, Curry said, was reviewed by planning and finance staff; the…
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