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Council approves TIF application for Beacon Interfaith housing project
Summary
The council held and closed a public hearing and approved a resolution to modify the development district and the TIF plan to create (or modify) Tax Increment Financing District No.1–19 for a Beacon Interfaith housing project, after the developer said the project is largely capital-funded but needs a tax credit investor and service funding assurances.
Maplewood council members held a public hearing on a Tax Increment Financing request from Beacon Interfaith Acquisition LLC and voted to approve a resolution modifying Development District No.1 and the TIF plan for District No.1–19.
Planning staff explained the EDA and…
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