The Two Rivers Plan Commission met last night with a focus on TIF (Tax Incremental Financing District) Funding for a couple of potential business entities.
City Manager Greg Buckley tells us they did a preliminary review of one TIF amendment, “We are looking at an amendment for Tax Incremental District 10 for possible grant assistance to help with development for the former Paragon Property.”
A discussion was also held on a potential new TIF District 15 in the Cool City, “which would involve the former Hansen Floral Property on 3000 Forest Avenue right across from the Two Rivers Family Restaurant. There’s a developer interested in pursuing market-rate multi-family apartment housing on that property.”
Buckley says the development is contingent on TIF assistance to move forward. Meanwhile, a public hearing on the proposed TIF 10 Amendment on the former Paragon property is scheduled for July 12th.
