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Developer eyes Arbor Glenn 2
Staff Writer BAXTER - A sequel to the Arbor Glenn housing project is in the works
And like the original, the developer is seeking tax increment financing to help pay for the project.
The Baxter City Council on Tuesday reviewed a proposal from developer Mike Swenson, who is seeking tax increment financing to build a 50-unit senior housing apartment project named Arbor Glenn 2.
Working with city staffers, Swenson agreed to a 12-year district with 95 percent of the tax increment returned to the developer in return for setting the rent on 24 percent of the apartments at $625, which falls under the low- to moderate-income threshold.
Following a public hearing, the council, in a 3-1 vote, instead offered a 10-year tax increment district, with 90 percent of the increment returned to the developer, providing rent is set at $625 for 30 percent of the apartments.
Mayor Darrel Olson, who voted against the motion, said such subsidies remove too much value from the city's tax rolls.
"It's my opinion that the bang for the buck is not there," Olson said.
Council member Rob Moser said that if there was a need for low- to moderate-income housing, more units should be available for assistance. Council member Jim Klein questioned whether $625 a month in rent could be considered low income.
An amended agreement between Swenson and the city will be considered by the council at a later date.
In other action, the council:
Was informed that the Kiwanis Clean-up Blitz will be from 8 a.m.-2 p.m. April 28 at the Gander Mountain parking lot in Baxter.
Was informed that Baxter's Board of Adjustment will be held at 1 p.m. May 8 at Baxter City Hall.
Was informed by the city administrator that staffers are meeting with architects - at no cost to the city - concerning possible plans for a future city hall. A space-needs study also is being conducted on the current city hall.
Approved a conditional-use permit for Menards for outdoor sales, expanding the garden center and increasing the outside yard area.
MATT ERICKSON may be reached at matt.erickson@ brainerddispatch.com or 855-5857.
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