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Wednesday, March 2, 2005
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Little Falls TIF district motion fails
Senior Reporter LITTLE FALLS -- A motion to create a tax-increment financing district at the former Larson Motor Service site failed Monday when the Little Falls City Council vote ended in a tie.
Council members voted 4-4, with Mike LeMieur, Hub Zyvoloski, Urban Otremba and Sharon Hogan voting against and Michael Doucette, Kate Davis, Dennis Kukowski and Brian Mackinac voting in favor of the TIF district.
Tax-increment financing is a method of financing public or private improvements that are needed to serve new development. While the existing tax on the property continues to be paid, the increase in tax value of the property is returned to the developer for a set period of time to help pay off the cost of the development.
If the TIF district would have been approved, the next step would have been a developer's agreement. The Housing and Redevelopment Authority recommended the council establish the TIF district to redevelop the blighted property.
Council members have been discussing a housing proposal from Sand Companies Inc. for an upscale housing development on the site designed for people 55 and older. Developers said the TIF money was needed to help them pay for demolition costs of existing buildings for the riverside property.
People attending the meeting expressed concern about the proposed residential development remaining a home ownership one versus a rental facility.
Sand Companies scaled down the number of units from an earlier 117 to 87 and presented a new plan for buildings. The reorganization meant the nearby Riverside Park property would not be moved. Driveways for the development were limited to two. The motion Monday did not include the park in the TIF district.
Doucette, Davis and LeMieur all stated concerns for the length of the TIF, which was proposed at 23 years.
"That bothers me right away," Davis said.
RENEE RICHARDSON can be reached at renee.richardson@brainerddispatch.com or 855-5852.
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