Committee backs two TIF‑assisted workforce housing projects in Walkers Point
The committee recommended creation of two single‑parcel TIDs to support Newland Enterprises projects in Walkers Point: Via Apartments (82 workforce units, up to $3.8M TIF) and Forma Apartments (65 workforce units). Terms include a clawback above a 17% return, cost‑sharing for underruns, and RPP/SBE participation requirements.
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The Development Committee on March 20 recommended adoption of two tax‑increment financing (TIF) project plans to support workforce housing in Walkers Point, advancing Newland Enterprises’ proposals for 1000 S. 5th St (Via Apartments) and 412 S. 4th St (Forma Apartments).
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