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Council Approves TIF Assistance for Townsend Mixed-Use Development in Downtown Edmond
Summary
The Edmond City Council approved a tax-increment financing (TIF) development agreement providing up to $3.18 million in reimbursements for the 18-townhome mixed-use Townsend project, to be built in three phases with at least $27 million in private investment.
The Edmond City Council on March 10 approved a development finance assistance agreement for the Townsend, a three-phase mixed-use townhouse project in downtown Edmond. The city will provide tax-increment financing (TIF) reimbursements capped at $3,180,000, tied to completion of each phase.
Downtown transformation manager Dana (last name not specified) told the council the project will include five mixed-use buildings in phase one, 12 townhomes in phase two and six townhomes in phase three, with a minimum private investment of $27,000,000. "The total investment from the developer will be, no less than $27,000,000…
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