The Plymouth Redevelopment Commission members considered a resolution Tuesday night that pertains to tax increment financing for the Centennial Crossings project.
City Attorney Sean Surrisi said the resolution helps move along the process of closing for the financing for the project.
“You’d be pledging the TIF revenue that would be generated within this district allocation area toward the bond financing that will be put in place,” explained Surrisi.
He said the bond documents should be finalized this week. The Plymouth Economic Development Commission will meet on the subject next week before being brought before the Plymouth City Council for approval.
The Plymouth Redevelopment Commission members approved the resolution with a unanimous vote.
Centennial Crossing will be located along Plymouth-Goshen Trail and Randolph Street. The first phase of construction could begin this fall with continuous build beyond that.
The site will offer several single family homes for sale and for rent, as well as a building that will offer multi family housing, duplex units, and senior citizen multi-unit development.
