GREEN BAY, WI-After receiving approvals from the Redevelopment Authority and most recently the Green Bay City Council on Tuesday, the Metreau apartment project could be in line for about $3 million in tax incremental financing assistance.

Construction is expected to start later this year on the $14.8-million project that includes 93 residential studio, one-bedroom and two-bedroom apartments and 3,316 square feet of retail space on East Walnut and North Washington streets, according to the Green Bay Gazette.

The Redevelopment Authority will sell the land to Dermond Property Acquisition of Milwaukee for $500,000, but the cost will be reduced to $200,000 if the developer owns it for 10 years or it reaches an assessed value of $10 million. If the assessed value reaches $11.5 million, the developer will get the property for free, the newspaper reports. The RDA has pledged at least $2.48 million in tax-increment finance district assistance to the project. See story in the Green Bay Gazette.