Project

• The 1301 West Lake Tax Increment Financing (TIF) Plan helps finance an apartment building with about 120 units of affordable housing.
• The building will be at the southwest corner of the intersection of West Lake Street and Fremont Avenue South.

Document

The TIF Plan:

• Creates a new housing TIF district
• Will finance the costs of a qualified housing development
• Includes a budget for the use of tax increment revenue generated by the new TIF district

See the plan

Timeline

• Comments: The City accepted comments about proposed changes until Monday, March 27, 2023.
• Business, Inspections, Housing & Zoning Committee: The BIHZ committee considered these changes on Tuesday, March 28, 2023.
• City Council: The City Council considered these changes on Thursday, April 13, 2023.