It’s not feasible. The smaller apartment towers and part of the same development aren’t either. Just another scam to fleece taxpayers…
“ Cooper, joined by Councilwoman JoBeth Hamon, previously voted against $200 million in tax increment financing approved by the city council in August, 2023. The assistance will be structured similar to a rebate in which money is only paid once the development of the first two apartment towers and garages are completed.”
More…
“ The project also has been approved for up to $200 million in tax increment financing based on new tax dollars it generates, as well as reimbursement of sales tax and use tax generated during construction capped at $5.5 million.”
This is how cities go broke. They start becoming financial partners with developers.