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City approves TIF amendment to convert downtown building into 10 apartments
Summary
The Decatur City Council voted unanimously to amend a May 2024 TIF agreement so a downtown East Main building will be repurposed from planned office space into 10 multifamily residential units and receive a 12‑month completion extension; the developer has invested about $898,000 to date.
The Decatur City Council on May 11 approved an amendment to a tax-increment financing (TIF) redevelopment agreement that will allow Merchant Street South LLC to convert a downtown East Main building from planned office space into 10 multifamily residential units and extend the developer's completion window by 12 months.
Economic and Community Development Director Lacey Elzey told the council the amendment only changes the timeline and the planned use for the Flora Jim’s property and Gil Giggles building and aligns with the city’s 2026–2029 community revitalization plan. Elzey said the developer has already invested approximately $898,000 in redeveloping the Flora Jim’s property.
The amendment is intended to respond to a documented local housing shortage: city staff and a 2023 housing study by Dantor and Associates cited a shortfall of market-rate units. In public comment, Zane Peterson, managing broker for Main Place Properties and representing Merchant Street South LLC, said converting the building is a “crucial pivot” for downtown housing and thanked the council for supporting the repurpose.
Council members moved and seconded the ordinance and voted 7–0 to adopt it.
The council did not attach additional conditions to the amendment beyond the revised schedule. The council's action authorizes the mayor to sign the amended TIF agreement; the council will receive implementation updates as the developer proceeds with construction.
