Steps were taken Tuesday evening by the Plymouth Redevelopment to move the unique financing forward for the Centennial Crossings residential housing development. This project is on the north side of Plymouth Goshen Trail at Randolph Street.
City Attorney Sean Surrisi presented a resolution that details the Tax Incremental Financing (TIF) District #6 financing on the project that will create 132 traditional apartments, 48 senior apartments, 24 condos and 59 villaminiums. Also included will be a club house and pool, playground and several bay garages.
Plymouth City Attorney Sean Surrisi told the commission, “We are moving toward the closing of the financing with the Centennial Crossing project with this resolution. This is the last step for you in the process.” He reminded them, “You’re pledging the TIF revenue that would be generated within this district allocation area for the bond financing that’s going to be put in place.” Surrisi said the documents are expected to be finalized this week.
The city attorney said there will be a meeting of the Economic Development Commission next week to put their approval to the financing and it will come before the Plymouth City Council for the final approval.
Members of the Plymouth Redevelopment Commission unanimously approve the resolution.
