With rent prices climbing, and not enough rental units on the market, low income families are feeling the squeeze.
The City of Janesville is hoping to help get sorely need affordable housing on the market by using tax incremental financing.
Economic Development Director Jimsi Kuborn says Monday night the City Council will consider extending the life of four TIF districts by one year for the purpose of affordable housing.
Kuborn says TID 25 has the opportunity for $331,000, TID 26 has the opportunity for $597,000, TID 27 has $5,000, and TID 33 could have up to $355,000 available.
Kuborn says there aren’t currently any projects in the pipeline for any of the four TIF districts.
