23 · high · area scope
City may back $32 million bond deal for Brookridge 510N project
Council will vote on declaring its intent to issue up to $32 million in taxable revenue bonds to help finance the Brookridge 510N Mixed-Use Multifamily and Commercial project. The bonds would let the developer avoid paying sales tax on construction materials for the project.
Why it matters: This is a public financing tool that gives a private developer a sales tax break, which reduces tax revenue the project would otherwise generate.
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