Rochester City Council Approves Miracle Mile Agreement
Rochester, MN (KROC AM News) - The Rochester City Council has signed off on a development agreement for the planned Miracle Mile project.
Developer Javon Bea is planning a building that will be located on the south end of the shopping center. It will include more than 100 apartments and a grocery store.
The development agreement requires work to begin by the end of May and be substantially completed by next September.
Bea appeared before the council at Monday night’s meeting and asked for a higher amount of public assistance for the $36-million project.
Staff recommended $2.9-million in tax increment financing to cover infrastructure costs. Bea asked for $3.4-million. The council went with the staff recommendation.
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