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Rochester Approves New TIF District for Affordable Housing Development
- Meeting Overview:
Overview: The Rochester Economic Development Authority has approved the establishment of Development District Number 86 and Tax Increment Financing (TIF) District Number 86-1, alongside a development assistance agreement with Rochester Lowertown Apartments LLC. This initiative will support the construction of a five-story, 133-unit apartment building in the Lowertown neighborhood, with 66 units earmarked for individuals earning below 120% of the area median income (AMI).
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Economic Development Board Officials:
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Meeting Type:
Economic Development Board
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Committee:
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Meeting Date:
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Recording Published:
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Notability Score:
Not Rated
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State:
Minnesota
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County:
Olmsted County
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Towns:
Rochester
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