Cleveland approves TIF for Terminal Tower apartments project

The observation deck of Terminal Tower will be a lot closer for some downtown Cleveland residents, after twelve floors of that building are converted into apartments, Cleveland.com reports. Cleveland City Council recently “approved a tax increment financing agreement that will allow use of newly generated tax revenue that would have gone to the city to be used instead to help finance the project,” according to the article. Developer K&D Group plans to leave the upper floors as offices and convert the fourth through fifteenth floors to one- and two-bedroom apartments. The agreement “does not impact the tax dollars that would go to the Cleveland school district.” For more, read the full article

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