The Plymouth Redevelopment Commission members considered a resolution this week that would declare the Plymouth-Goshen Trail area an Economic Development Area, the approval of an economic development plan, and establishment of an allocation area for purposes of tax increment financing for a housing project.
City Attorney Sean Surrisi said the purpose of the resolution is to develop a TIF District for the Centennial Crossings housing development proposed north of Centennial Park in Plymouth. He added this is in preparation for financing that would allow for funding to assist with infrastructure costs as the developer proceeds with plans.
Surrisi said a surveying company is working to finalize drawings of the development to present to the plan commission to move the project forward. Construction could begin yet this Spring.
Financing of improvements in support of the project would be through the Plymouth Redevelopment Commission in the approximate amount of $2 million.
The housing development will include 55 Villaminiums and 220-258 apartment units, a clubhouse and amenities, and two full-time jobs to start.
The Plymouth Redevelopment Commission members approved the resolution as presented. The measure now goes to the planning commission and the city council. A public hearing will then be set for comments on the resolution.
