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Planning Commission Regular
Meeting Date: 12/20/2018  
Subject:    Consider Resolution Finding Proposed TIF District is Consistent with the Comprehensive Plan
From: Matt Brown, Economic Development Coordinator

The Commission is asked to consider a resolution finding that a proposed Tax Increment Financing (TIF) Plan for a workforce housing proposal is consistent with the Comprehensive Plan.
Decision by Planning Commission
94xx Springbrook Drive in the Port Evergreen area.
  Existing Use Comprehensive Plan Zoning
vacant Commercial Mixed Use PORT
North Highway 610/single-family residential Low Density Residential LDR-2
South hotel Commercial Mixed Use PORT
East Highway 47/multi-family residential High Density Residential HDR
West single-family residential Commercial Mixed Use PORT
The applicant proposes a 184-unit workforce apartment project on the subject site. All of the units would be affordable to households earning 60% of area median income. In 2018, 60% of median income for a family of four is $56,580. Staff anticipates that the Planning Commission would review a site plan application for the project in early 2019, provided the City Council approves financial assistance for the project.

The applicant has requested TIF assistance from the City for the project, which meets the requirements for a housing TIF district. Minnesota Statutes require that the Planning Commission adopt a resolution finding that the proposed use of TIF is consistent with the City's Comprehensive Plan. The Future Land Use Map in the Comprehensive Plan guides the area as Commercial Mixed Use. The Port Evergreen Master Plan guides the site as High-Density Residential and multi-family residential is a permitted use in the Port Evergreen zoning district. A draft of the TIF plan is attached.
Adopt Resolution PC 18-1, finding that the modification to the Redevelopment Plan for Redevelopment Project Area No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District 1-33 conform to the Comprehensive Plan.

Location Map
Resolution PC 18-1
TIF Plan

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