700 E. Main Street TIF amendment (NuLu Crossing)
Summary
A $275 million downtown-adjacent development is getting a revised TIF deal. The city's maximum contribution stays at $39.4 million, and the developer only gets paid back as new tax revenue actually shows up. The project keeps 340 apartments, including 34 affordable units for households earning up to about $54,000 a year.
At a glance
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Last discussed Jun 2, 2026.
Impact analysis
The city's exposure is capped at $39.4 million over 30 years, paid only from new tax revenue the project generates.
The developer gains financing flexibility, and renters earning up to about $54,000 a year get 34 affordable units.
Taxpayers bear risk if the project underperforms, though the performance-based structure limits upfront exposure.
Mentions & discussions (1)
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