city-of-lake-henry-city-council-agenda-village-apartments-tif-airport-roof-july-15-2025_c7f.pdf
Village Apartments LLC Secures $677K TIF for Development
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Description
The Village Apartments LLC project is set to receive a maximum of $677,000 in tax increment financing assistance over 12 years, provided they rent at least 20% of their 35 units to individuals earning no more than 50% of the County median income.
Contract Details
Contract Amount
$677,000
Vendor
VILLAGE APARTMENTS
Agency
City of Lake Henry, MN
Contract Type
Tax increment financing
Document Date
July 15, 2025
Contract Term
12 years
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