The City prepared the 550 West Lake Tax Increment Financing (TIF) Plan to help finance the construction of a new building at 550 West Lake Street. It is located at the corner of West Lake Street and Garfield Avenue.
The new building will have110 units of affordable housing.
The TIF Plan:
- Creates a new housing TIF district to finance the costs of a qualified housing development
- Includes a budget for the use of tax increment revenue from the new TIF district
What to know
Comments are due by October 23.