Council approves Aurora condo TIF
The Lake City City Council unanimously approved a tax increment financing plan for a lakefront condominium project at its June 9 meeting.
The Aurora Luxury Condominiums building will occupy a square block of downtown Lake City known as Block 13.
The block has several vacant buildings, including the former Conoco gas station at Marion Street and Lakeshore Drive.
The approved plan calls for the increase in property tax revenues generated by developing the site to be refunded to developer Meier Companies to pay for allowable expenses.
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