By Cheryl Jahn

Downtown Incentives Program Expanded

Dec 19, 2017 | 1:48 PM

Now there are more reasons for developers to look at downtown for building housing. The City and the Northern Development Initiative Trust entered into a highly successful Downtown Incentives partnership and has now added to the pool of available funds. The program allows developers to defer City taxes for a period of time, to the tune of $10,000 per door. Now the Trust has increased the number of available funds to two and a half million dollars over six years. That will cover the cost of 250 units in the downtown.