Overview

We are seeking input on modifications to the following Tax Increment Financing (TIF) Plans:

• #93 Historic Milwaukee Depot
• #102 East Hennepin and University
• #124 East River/Unocal

The Modifications:

• Amend the TIF Plan budgets to reflect changes in projected revenues and costs through the remaining duration of the districts, including increased amounts for construction of affordable housing; and
• Add language (to those plans that don’t already contain it) describing the allowable use of tax increment revenues to assist qualified low-income rental housing projects (“affordable housing”) located anywhere within the city.

The Modifications do not appropriate any specific tax increment funds for affordable housing. Rather, they give the City Council the authority to make appropriations from these 3 TIF districts for affordable housing in the future. Such appropriations would happen through either the City’s normal budget process or through separate City Council action(s).

No properties are being added to or removed from the TIF districts. 

Read about Tax Increment Financing

What to know

Comments are due by 12 p.m. on Monday, September 9.

See timeline for comments and City meetings about changes
Read the draft document