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Plan Commission recommends amendment to TID No. 8 to add land for 72‑unit multifamily project
Summary
The Portage City Plan Commission voted unanimously to recommend that the common council adopt a resolution amending Tax Incremental District (TID) No. 8 to add roughly five acres for a proposed 72‑unit multifamily development; staff and the city’s municipal advisor said the project could generate about $12 million in new taxable value and include roughly $1.8 million in pay‑as‑you‑go incentives.
The Portage City Plan Commission voted unanimously to recommend that the common council adopt a resolution amending the project plan and boundaries of Tax Incremental District No. 8 to add territory for a proposed multifamily development.
John Cameron, a municipal advisor with Ehlers, told commissioners the district — created in June 2014 as a mixed‑use tax increment district — is being proposed for a first amendment to add territory to the south for a planned three‑building, 72‑unit market‑rate multifamily development. "This would go before the common council, this coming Monday, the 20 fourth," Cameron said during the presentation. He said the developers’ project is…
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