Orange City approved an urban renewal district for Axis Holdings downtown.
Axis Holdings is renovating their downtown office building and has gotten their lot designated as an urban renewal district by the city to help them with their renovations. City Administrator Matt Van Schouwen lays out how Axis Holdings is redeveloping their downtown offices.
Urban renewal districts allow the city to use Tax Increment Financing, or TIF, to help with development. Van Schouwen describes how Orange City will be using TIF in this case.
The four condos above the office level will not benefit from Tax Increment Financing.
