Missoula Redevelopment Agency approves contracts for housing, economic development

The Missoula Redevelopment Agency’s board approved two contracts on Monday, one to send $100,000 per year for three years to the Missoula Economic Partnership and the other to give $88,680 in Tax Increment Financing to a group of local housing developers for alley paving.

The housing project is a 15-condominium development at the corner of Idaho and Inez streets in Urban Renewal District II. The two-bedroom units will probably sell for $464,900 and the three-bedroom units will go for $494,000. The development group, called Idaho Street Holdings and led by local businessman Dan Cederberg, were applying for Tax Increment Financing to pave an alleyway that borders the project. They were unanimously awarded $88,860 by the board. The total project cost is estimated to be about $7.2 million.

A rendering of what the condos on Idaho Street will look like.

Idaho Street Holdings

“The project will transform currently vacant property in the center of the city into 15 new residential units which will provide home ownership opportunities to working families,” explained MRA director Ellen Buchanan. “The listing price is well below the

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