City Council Vote Scheduled on New Housing Project
Rochester, MN (KROC AM News) -The Rochester City Council is scheduled to vote Monday night on a recommendation to establish a new development district for a downtown area housing project.
Staff is recommending approval of the TIF district being sought by developer Joe Weis.
He is proposing a 68 apartment complex that would be located on the east side of 1st Ave NW and the south side of 5th Street NW, near the Cheap Charlie’s restaurant.
Approval of the tax increment financing district would make the project eligible for financial assistance from the city.
Weis is seeking $750,000 in assistance for the $7.5 million project. Staff is recommending $400,000 in assistance.