WILLMAR — Suite Liv’n, a rental developer and management company, currently has approximately 700 units in Willmar, and the company hopes to add at least another 72 with four new apartment buildings near Ridgewater College.
To make the project financially feasible for Suite Liv’n, it is requesting a 15-year tax-increment financing district for the project from the city, which, if approved, would provide the company nearly $1.5 million total in returned taxes. However, to receive that
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
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
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
