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Finance director outlines proposed TID 17 for 92-market-rate apartments at 2825–2835 N. Mayfair Rd.
Summary
City finance staff proposed a single-site rehabilitation Tax Incremental District (TID 17) for 2825–2835 N. Mayfair Rd., describing a 92-unit market-rate apartment project with estimated total costs just over $5 million and a proposed $2.85 million municipal revenue-obligation development incentive; the public hearing closed and the matter will go to Plan Commission.
The city’s finance director described a proposed Tax Incremental District 17 to support a rehabilitation project at 2825–2835 N. Mayfair Rd. He said both former buildings on the site have been demolished and the proposal is for a 92-unit market-rate apartment…
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