Tuesday night is a public hearing on a five-story building at 118 W. Clay — apartments over first-floor storefronts — and on the tax plan that would help pay for it.

The developer on the packet is Revilo Two GRR, LLC. Staff describe 40 units: 12 studios, 21 one-bedrooms, seven two-bedrooms. Total investment is about $12.9 million. Construction is aimed at spring 2027 and 15 to 18 months of work.

Site Plan

What Commission is being asked to approve is a brownfield plan amendment (the legal paper that lets new taxes on the site — tax increment financing, or TIF — pay for eligible costs). Eligible work on the form is demolition, infrastructure, site prep, a financing gap, and writing and running the plan. Staff put that package at $1.36 million.

There is also a housing TIF piece: units aimed at households at or below 110 percent of area median income for 10 years. The plan itself is sketched at about 23 years. Staff say that clock can move if the Neighborhood Enterprise Zone on the same address (the next hearing Tuesday) and a state housing TIF both land. In the last five years, the local brownfield loan fund is projected to capture about $493,000.

The Brownfield Redevelopment Authority already said yes on September 8. Tuesday’s motion is to close the hearing and approve the resolution, with the Authority’s administrative fee raised from 5 percent to 10 percent. After that it goes back to the Authority for the fee change.

Site is between Napote's and Morat's

Vote: YES or NO

A yes does not pour the foundation. It turns on the tax-capture tool so this project can use it. A no leaves 118 W. Clay without that plan.

Same night, the Clay hearing for the Neighborhood Enterprise Zone is the housing tax-cut side of the same site.

Packet: September 22, 2026 agenda packet