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Council weighs small TIF subsidy for 101 Washington Square roof replacement
Summary
A TIF application for roof replacement at 101 Washington Square (projected cost $75,927.08) scored in the lowest funding tier under staff's model; staff recommended a 20% subsidy (not to exceed $15,001.85) and council provided feedback to draft a redevelopment agreement.
City staff presented a Tax Increment Financing (TIF) application on April 14 from Josie Wells, representing CPT LLC, to replace the back half of the roof at 101 Washington Square. The lower of two contractor quotes attached to staff's packet was $75,927.08.
John Oliphant said the property has received several TIF-funded projects over the last 20-plus years; he estimated the building and related properties have received roughly $600,000 in TIF assistance since…
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