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A rare appropriate use of TIF funds.
Why in the world does this developer need taxpayer subsidy? Is there any reason other than that every other developer downtown is also slurping at the TIF trough? Please, IBJ, do a deep dive into these TIFs. Everyone benefits – except the taxpayers footing the bill.
They set aside THREE low income AMI 30% units.
So they’re making 1mm/unit to lose $900/month on rent lol