Batavia City Council Approves $1 Million TIF Incentive for Affordable Housing Project
The Batavia City Council has approved a $1 million tax increment financing (TIF) incentive for a proposed 72-unit affordable housing development. The project, known as the Residences at River Pointe, is spearheaded by Fox River Affordable Housing, a nonprofit associated with the Housing Authority of Elgin. The development aims to address the city's need for affordable housing and will be located on a former limestone quarry site. The project will include a mix of one, two, and three-bedroom units, with a significant portion reserved for low-income households. The total project cost is estimated at over $28 million, with funding also expected from the Illinois Housing Development Authority's Low Income Housing Tax Credit. 
