WILLMAR—The way is clear for Commonwealth Development to break ground 15th Street Flats, the new multi-unit housing project which will offer 47 apartments for a wide range of Willmar renters.
The Willmar City Council this week approved the tax increment financing development agreement between the city and developer, the last step before construction.
“They hope to break ground next month,” said Bruce Peterson, Willmar Planning and Development Services director, speaking at Monday’s
WILLMAR—With the approval Tuesday night of a tax increment financing district, the 15th Street Flats apartment project in Willmar has cleared one of its last hurdles and is now on schedule to begin construction in June.
“The city and the EDC have been working with Commonwealth Development for approximately a year to bring this project to the table, to fruition,” said Bruce Peterson, Planning and Development director.
The resolution creating the district was approved by the Willmar City
WILLMAR—The potential workforce housing development planned for Willmar, called 15th Street Flats, has conquered a major hurdle this week, as the Minnesota Housing Finance Agency approved approximately $8 million in tax credits and $1,259,000 in Minnesota Housing investment.
“I am really happy. This is significant,” said Aaron Backman, executive director of the Kandiyohi County and City of Willmar Economic Development Commission.
According to Minnesota Housing, the tax credits are dollar-for-dollar