Previously the EDA created TIF District #19. This change now includes the three properties that the EDA has approved contracts for acquisition and also now includes the city alley that will be abandoned once the properties are acquired.

LHB has completed the necessary updates to the Redevelopment TIF Plan.

The larger district now includes the entire block. This will allow for a more comprehensive development plan.

The EDA will adopt a new contract for private development with the developer on June 18, 2019. The developer is currently working on new design plans to include the corner and is calculating number of units, additional costs, including the property acquisition, and how to increase parking. The final design and development costs will ultimately set the final amount of the TIF note. Our financial consultants, Baker Tilly, have prepared a preliminary financial analysis that shows the potential of additional investment by the expansion of the project. The final amount of the available TIF will be contained in final contract for private development.