The Plymouth City Council members reviewed a resolution last week that would take a new development one step closer in the tax abatement process.
The resolution confirms the adoption of a declaratory resolution designating certain real estate to be with in an Economic Revitalization Area for the purposes of real property tax abatement for Solomon Development, LLC.
In July, the Plymouth City Council members heard from developer Kevin Berger from Solomon Development, LLC who discussed the project that includes townhome units that will provide workforce housing at the corner of Richter Road and Baker Street. The project is within the Marshall County Crossroads Stellar Communities Initiative.
Riverside Commons will be a low income housing tax credit project through the Indiana Housing and Community Development Authority. Two bedroom units will be $875 a month and the three bedroom units will be $1,075 a month.
Even though the project is within the Stellar initiative and funding has been set aside, the project is in competition with other communities awarded Stellar funds for projects.
The Plymouth City Council members approved the resolution with a unanimous vote. The next step will be a request for tax abatement for the project which will be presented in a future meeting.
