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Council calls public hearing on proposed tax abatement for 54‑unit apartment project; MHFA grant decision pending
Summary
Council voted to call a public hearing on a proposed tax abatement for a 54‑unit market‑rate apartment project after staff described scenarios for city/school/county participation and noted a pending MHFA grant decision expected Sept. 26; the public hearing will be Oct. 21.
The City Council voted to call a public hearing to consider participating in a tax abatement for a proposed 54‑unit apartment project. Staff described four abatement scenarios and said the developer reports a $1.2 million financing gap that the abatement (and possible county and school participation) would help close. Staff noted a pending Workforce Housing Development Program…
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