Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Emery Tif Certification topic
No spam. Unsubscribe anytime.
EDA accepts Emery affordable-housing TIF certification after staff presentation
Summary
City staff told the EDA the Emery (Emory) apartment TIF meets its affordability agreement (40% of units at 60% AMI), reported eight vacancies at the time of the packet, and the EDA voted unanimously to receive and accept the certification.
City economic-development staff presented the annual Emery apartment tax-increment financing (TIF) certification and asked the EDA to "receive and accept" the report so the developer can receive its certification letter.
Staff said the Emery TIF began in 2020 and that the project’s affordability covenant requires that 40% of units be reserved for households at or below 60% of area median income (AMI). According to the packet and staff’s remarks, units certified in prior years remain certified until occupants’ circumstances change; at the time the report was prepared, eight of the 52 units were vacant.
Stacia Seitzman made the motion to receive and accept the certification, and Deb White seconded. After brief discussion — including Commissioner White’s request for historical occupancy context and staff’s response that earlier years showed some vacancies when the project was new — the board voted by roll call. All members present voted in favor and the certification was accepted.
Staff said next steps include issuing the developer’s certification letter and continuing annual reviews to confirm compliance with the affordability requirements.
