Summary
A $19 million, 71-unit apartment project at 116 W. Cedar Street gets a 30-year DEGA step-aside worth about $1.6 million through 2048. Fifteen units stay income-restricted for 20 years, and the site's taxable value is projected to jump from about $80,000 to $4.1 million once the incentive expires.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jul 13, 2026.
Impact analysis
About $1.6 million in forgone DEGA capture through 2048 in exchange for a property projected to be worth $4.1 million in taxable value afterward.
Future residents, including renters at or below 100% AMI, plus downtown housing supply and the construction workforce.
DEGA and downstream taxing units forgo about $1.6 million in captured value through 2048.
Mentions & discussions (2)
Downtown Economic Growth Authority Board - Jul 13, 2026
A $19 million, 71-unit apartment project at 116 W. Cedar Street gets a 30-year DEGA step-aside worth about $1.6 million through 2048. Fifteen units stay income-restricted for 20 years, and the site's taxable value is projected to jump from about $80,000 to $4.1 million once the incentive expires.
City Commission - Apr 20, 2026
The $22 million Kalrecovery project (now the William Schmey House) finally broke ground after eight years, helped by a newly accepted $1 million brownfield grant. Mayor Anderson and advocate Tobi Hanah-Davies both said the city needs to speed up its development process.
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