Brinshore Development has proposed a 49-unit project that includes a small apartment building, along with duplexes and triplexes. Units will be a combination of one- and two-bedrooms with 44 of the units deemed affordable and the remaining five units rented at market rates. Estimated cost is $8.85 million.
The project meets the requirement for Workforce Housing Tax Incentive Program benefits that includes 100 percent rebate of state sales and utility use taxes. Tax increment financing will be needed and city staff has negotiated a 60 percent TIF for a period of 12 years, not to exceed $174,000.