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Council approves Lowell Street TIF amendment to unlock HUD‑backed housing project
Summary
The council unanimously adopted a first amendment to the Lowell Street TIF and development program to support a 152‑unit HUD‑insured 'missing middle' building, reducing city public‑project funding to $850,000 and authorizing a fixed annual $400,000 credit enhancement for 20 years to help secure financing.
Lewiston — The City Council unanimously adopted the first amendment to the Lowell Street omnibus tax increment financing (TIF) district and development program, a move officials say will enable a 152‑unit, HUD‑insured housing project aimed at the city’s “missing middle.”
Economic and Community Development Director Nate Libby and developer Jason Levesque presented a revised project that shrank city‑funded public improvements from $1.5 million to $850,000 and offered a fixed…
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