CONTRACTPENDING

Rochester Civic Lot secured $9.065M TIF for apartments

Disclosed value: $9,065,000; From contract
Document date: Jan 1, 2025
Term: 2025-01-01 to 2054-02-01

What it covers

Rochester Civic Lot Limited Partnership is set to receive up to $9,065,000 in tax increment financing from the Rochester Economic Development Authority for the Civic Center North Affordable Apartments Project. The agreement outlines the construction of a 5-story, 76-unit affordable residential building with structured parking. The TIF notes will be issued in two series, with interest rates tied to the developer's financing. The project aims to provide affordable housing in Rochester's Economic Development District, with the first payment to commence on August 1, 2028, and will continue through February 1, 2054.

Who holds it

Rochester Civic Lot holds this purchase and development contract with City of Rochester.

What happens next

Term as filed: 2025-01-01 to 2054-02-01.

See who signed off on this $9.1M contract.

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Contract details

Contract type: Purchase And Development
Amount: $9,065,000
Document date: January 1, 2025
Term: 2025-01-01 to 2054-02-01
Vendor: Rochester Civic Lot
Agency: City of Rochester
Source document: city-of-rochester-purchase-development-assistance-agreement_a90.pdf (Contract)

Rochester Civic Lot's other public contracts

City of Rochester, Minnesota$16.5M bond financing awarded for Rochester multifamily housing project · Jun 16, 2025$16.5M City of Rochester, MinnesotaDevelopment assistance agreement approved for Rochester Civic Lot Limited Partnership · Jun 16, 2025Undisclosed City of Rochester, MinnesotaRochester Civic Lot Limited Partnership awarded $13.19M development assistance agreement · Jun 16, 2025$13.2M City of Rochester, Minnesota$14 million funding approved for Civic Center North Apartments project · Jun 16, 2025$14M City of Rochester, MinnesotaAffordable housing development assistance agreement approved · Jun 16, 2025Undisclosed All Rochester Civic Lot contractsVendor profile

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Questions about this contract

Who was awarded the purchase and development contract by City of Rochester?

Rochester Civic Lot was awarded this purchase and development contract by City of Rochester, as recorded on January 1, 2025. The contract value is $9,065,000.

How much is the Rochester Civic Lot contract with City of Rochester worth?

The Rochester Civic Lot contract with City of Rochester is valued at $9,065,000, covering purchase and development work.

What type of contract is this?

This is a Purchase And Development contract, documented as a contract record.

Where was this contract approved?

This contract appears in city-of-rochester-purchase-development-assistance-agreement_a90.pdf (Contract), dated January 1, 2025 from City of Rochester. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Rochester Civic Lot hold?

Rochester Civic Lot may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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