Opportunity Zone

Willmar’s Renaissance Zone to encourage investment is a go after council approval

May 20, 2020

Willmar’s Renaissance Zone to encourage investment is a go after council approval
WILLMAR — The Renaissance has arrived in downtown Willmar. With the Willmar City Council approval of the zoning ordinance establishing the Renaissance Zone District, economic development professionals hope it will usher in an era of rebirth for the zone, including new commercial and residential projects. “We are hoping this new overlay will encourage investment and activity in the area,” said Dave Ramstad, Willmar Planning and Development director, at the May 4 meeting of the Willmar

Interest grows in Willmar Renaissance Zone

February 27, 2020

Interest grows in Willmar Renaissance Zone
WILLMAR—Even though the Willmar Renaissance Zone is still in the planning and vetting process, word has already begun to spread amongst interested parties and developers. “We’ve had a lot of great feedback and a lot of great interest in the zone,” Willmar Planning and Community Development Director Dave Ramstad recently told members of the Willmar Planning Commission. The proposed zone would provide a host of economic development incentives to draw developers to the area and perhaps

Recently Released Willmar Opportunity Zone Prospectus Promotes Local Investment Potential

January 23, 2020

Recently Released Willmar Opportunity Zone Prospectus Promotes Local Investment Potential
Today, Aaron Backman, Executive Director of the Kandiyohi County and City of Willmar Economic Development Commission, announced the release of the Willmar Opportunity Zone Prospectus. The prospectus highlights the designated census tract in Willmar to potential opportunity zone investors and developers. Opportunity Zones are low-income census tracks designated by governors and certified by the U.S. Department of the Treasury offering investors a tax-free investment vehicle that creates additional

City planning for a revival of downtown Willmar with a proposed Renaissance Zone

January 15, 2020

City planning for a revival of downtown Willmar with a proposed Renaissance Zone
WILLMAR—While it is not exactly the dark ages in downtown Willmar, home to many successful businesses and low vacancy rates, there is also plenty of opportunity for development, whether it is upgrading an older building or constructing a project from the ground up. The area is already part of Willmar’s only Opportunity Zone, which provides capital gains tax breaks for those who invest in eligible projects. In an effort to bring even more development to the area and open it up to a larger

Willmar Opportunity Zone for Investors

December 19, 2019

Willmar Opportunity Zone for Investors
Governor Mark Dayton qualified one area of Willmar, out of the 128 census tracts throughout the state, to be qualified as an Opportunity Zone. An Opportunity Zone designation provides potential investors with tax breaks while funding development or redevelopment of the neighborhood. The Kandiyohi County and City of Willmar Economic Development Commission contracted with Golden Shovel Agency to attract investors. The ultimate goal is to develop or redevelop areas within the designated tract through

Kandiyohi County and City of Willmar EDC seeks investors for redevelopment projects in Willmar Opportunity Zone

October 16, 2019

Kandiyohi County and City of Willmar EDC seeks investors for redevelopment projects in Willmar Opportunity Zone
Kandiyohi County’s only Opportunity Zone, located around downtown Willmar, provides potential investors with tax breaks while funding development or redevelopment of the neighborhood.   The goal of the Opportunity Zone is development or redevelopment, and the Kandiyohi County and City of Willmar Economic Development Commission has contracted with Golden Shovel Agency to attract investors. When former Minnesota Gov. Mark Dayton released his list of the 128 census tracts chosen to