Meeting Date: April 21, 2022
To: Members of the Planning Commission
From: Nate Carlson, Economic Development Coordinator
Title
Consider a Motion regarding the Development Program for the Master Development District and Tax Increment Financing (TIF) Plan for the Heritage Lofts TIF District.
Body
Action Requested:
The Planning Commission is asked to consider a motion regarding the Development Program for the Master Development District and Tax Increment Financing (TIF) Plan for the Heritage Lofts TIF District and conformance with the City's General Plans for development and redevelopment.
Summary Report:
Nexus Outreach, LLC (Developer) is requesting Tax Increment Financing (TIF) incentives from the City of Northfield to assist with a mixed-income apartment housing project located off Heritage Drive in the southern portion of Northfield. The project has the potential to increase affordable housing options in Northfield by assigning 20-percent of the units at 50-percent Area Median Income (AMI) for the duration of the TIF.
The proposed Heritage Lofts apartment building is located on a 2.89 acre parcel zoned C2-B: Highway Commercial. Multi-family buildings of 9-units or more is a permitted use in the C2-B: Highway Commercial zoning district. The applicant submitted the site plan review application in November of 2021. The proposal includes an apartment building of 90 units (6 - Three bedroom units; 37 - Two bedroom units; 38 - One bedroom units; 9 - Studio units).
The proposed project is a permitted use in the C2 zoning district. The applicant has been working with staff on site plan review and land development code requirements since November and the proposed project has been reviewed by the Development Review Committee. A few items remain to be updated by Anderson Companies on planning and public works related comments.
Existing easements need to be vacated and rededicated before a building permit would be issued. Vacating easements is approved by City ...
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