TIF

Bethesda proposes $16 million facility in New London

April 6, 2019

Bethesda proposes $16 million facility in New London
After meeting with representatives of nonprofit senior living organization Bethesda, of Willmar, the City of New London passed a resolution Wednesday evening calling for a public hearing to establish a TIF (tax increment financing) District. This TIF District would allow Bethesda to construct a $16 million senior and assisted living facility in New London near Peterson Parkway. Although the project is still in its preliminary design phase, Bethesda plans to create a 72-unit, 95,000 foot facility

First Street TIF district approved by Willmar City Council

November 7, 2017

First Street TIF district approved by Willmar City Council
WILLMAR—The Willmar City Council on Monday night approved a new redevelopment tax increment financing district along First Street South that will assist a developer in completing a retail construction project on vacant land on one of Willmar’s main thoroughfares. This was after lengthy discussion at several meetings, along with tabling the decision at the Oct. 23 meeting, because there were concerns that such assistance gives unfair advantage to certain developers over others. The vote to

15th Street Flats clears major hurdle

October 21, 2017

15th Street Flats clears major hurdle
WILLMAR—The potential workforce housing development planned for Willmar, called 15th Street Flats, has conquered a major hurdle this week, as the Minnesota Housing Finance Agency approved approximately $8 million in tax credits and $1,259,000 in Minnesota Housing investment. “I am really happy. This is significant,” said Aaron Backman, executive director of the Kandiyohi County and City of Willmar Economic Development Commission. According to Minnesota Housing, the tax credits are dollar-for-dollar