The need for tax increment financing for a $44.5 million mixed-use Willy Street development reportedly has the developer rethinking the project. The project would need about $5.9 million in TIF to fill a financing gap created by the need to provide parking for existing commercial tenants on the block.
The developer, the Baldwin Group, has asked that a land-use review for the eight-story project be halted until it is determined whether the TIF loan would even be possible. Initial response from city staff to the TIF request was cool, according to reports.
