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The HRA voted 4-0 to recommend creating TIF District No. 27 for Modern Roots’ proposed mixed-use redevelopment at 111 Division Street E. The approximately $2.8 million project has an independently identified financing gap of about $142,000; reimbursement would come only from new property taxes generated by the project, pending City Council action.
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The proposal would replace a former auto parts store with an approximately 8,400-square-foot building for retail, production, and warehouse uses. The HRA recommended a pay-as-you-go arrangement, meaning no public money would be paid upfront and the developer would be reimbursed only as new tax revenue is collected. The recommendation includes a condition requiring a contrasting color from the approved Downtown Design Guidelines palette.
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