Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council backs major downtown housing project with TIF and state bond support
Summary
The Rochester City Council and its EDA approved development assistance agreements and authorized combining tax increment financing and DMC resources to support a 341-unit downtown project that includes a 76-unit affordable senior building, drawing debate over public subsidy and timing.
Rochester — The City Council on June 16 approved a package of actions to advance a major downtown housing development that pairs market-rate construction with a deeper-affordability building aimed at seniors.
The Rochester Economic Development Authority and council approved purchase-and-development assistance agreements and authorized use of up to $500,000 in General State Infrastructure Aid (GSIA) and a performance-based tax increment financing (TIF) structure to support the Civic Center North project, which Sherman Associates proposes to build on the city-owned civic parking lot. Developer Sherman Associates and partners described a two-building scheme totaling 341 units,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
