TID 33: Velp and Locust creation
Summary
A new 34.3-acre TIF district at Velp Avenue and Locust Street will help fund a 90-unit multifamily development — three 30-unit buildings plus a parking garage. TIF money covers land acquisition, cleanup, utilities and development incentives, with costs eligible within a half-mile radius.
At a glance
- Total mentions
- 1
- Last 30 days
- 0
Last discussed Aug 25, 2026.
Impact analysis
The district's project costs will be paid from new property tax increment generated by the development; the city's consultant confirmed the TID is financially viable.
Future residents of the 90-unit development and the northwest-side neighborhood get redevelopment of an underused area.
Property taxpayers won't see the new incremental tax revenue for general services until the district's costs are paid off.
Mentions & discussions (1)
Related development
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