Laserfiche WebLink
APPENDIX A <br />PROJECT DESCRIPTION <br />Three parcels are being removed from TIF District No. 3 -2 and included with another parcel in the <br />establishment of TIF District No. 3 -3. TIF District No. 3-3 will be a housing tax increment financing district <br />located within Redevelopment Project Area No. 1. A housing district has a maximum life of25 years of tax <br />increment (or a shorter period as determined by the City Council). Tax increments collected from the District <br />will enable the City of Little Canada to facilitate the construction of an approximately 35 -unit multi - family <br />residential rental senior housing addition to the existing senior housing facility known as "Garden Terrace" <br />designed for persons or families of tow and moderate income and an approximately 78 -unit multi - family <br />residential rental senior housing facility known here as "Village Square at Little Canada" designed for <br />persons or families of low and moderate income over approximately 14,000 square feet of commercial /retail <br />space. <br />APPENDIX A -I <br />