| By Neil Johnson, Anchor/Reporter, Big Radio |
The city of Milton is rolling out big cash… just over $2 million in tax incentives… to land a 76-unit apartment complex.
Without fanfare and with little discussion last night, the Milton city council OK’d a tax-increment financing loan to developer Kevin Hendricks. The loan would be paid back through extra tax collections that’d come through the new apartments.
Hendricks plans the apartments on Milton’s southeast.
The deal comes as brand-new Milton city administrator Paul Hensch takes the helm at city hall.
It comes amid a critically slim stock of local rental properties.
The loan would be paid out as long as the apartments are built. Overall, the $2.1 million dollar deal is about half the size of the 2024 budget and tax levy the city council just approved.
