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Wyoming council approves brownfield plan, tax capture for Home Flats phase 3
Summary
The Wyoming City Council approved a brownfield plan and related agreements for the Home Flats at 28 West Place Phase 3 housing development, authorizing tax capture and a reimbursement agreement to support demolition, asbestos abatement and site prep for the roughly $80 million project.
The Wyoming City Council on March 3 approved a brownfield plan, reimbursement agreement and a tax-increment transfer agreement with the Downtown Development Authority for Home Flats at 28 West Place, phase 3, a multi-building housing development on 20 Eighth Street.
City Manager John (last name not specified) told the council the phase 3 development is roughly a $80,000,000 project consisting of about 225 units in four buildings, and that the brownfield plan would reimburse about $3,200,000 in eligible costs such as asbestos abatement, demolition and site preparation. "There's a parking structure with a green roof element to it as well," John…
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