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Potential apartment project would need annexation and TIF-backed infrastructure, staff say
Summary
Staff reported interest from a developer in a market-rate apartment project spanning parcels partly outside the city; annexation and a TIF-funded bond to build utilities were raised as likely next steps, with a goal of breaking ground next year.
City staff told the meeting on Dec. 9 that a developer is considering a market-rate apartment complex that would span multiple parcels, some of which lie outside city limits and therefore would require annexation before development can proceed.
Speaker 3 described the proposal and said annexation would likely be the first step. "They'd like to have shovels in the ground next year," Speaker 3 said, adding that annexation could…
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