The Des Moines City Council has approved Neighborhood Development Corp.’s application for an estimated $968,398 in state tax credits for a  $7.6 million project that would add 50 market-rate apartment units in the Drake University area between 32nd and 33rd streets and north of Forest Avenue. The project would develop a 1.45-acre site that has been unused since 2006 and contains vacant buildings. It could qualify for an estimated $731,319 in tax increment financing assistance, according to a report from the city’s economic development department. The state program requires local government support. The city is in the process of creating an urban renewal area and tax increment finance district for the area, made up primarily of the project site. The TIF assistance would satisfy a state requirement for local financial assistance.