South Portland OKs tax subsidy for Avesta Housing project

SOUTH PORTLAND — An affordable housing plan for Redbank gained traction Monday night when city councilors approved placing the project in a tax increment financing district.

By a unanimous vote and with little comment, the City Council agreed to set aside an acre of land extending from 586-600 Westbrook St. as a TIF district under a 30-year credit enhancement agreement with Portland nonprofit Avesta Housing.

The agency plans to build a 64-unit building, with 52 of the units marketed as affordable.

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