Free meeting summary
Willmar City Council Approves TIF District for Senior Housing Amid Concerns Over 26-Year Term
- Meeting Overview:
Overview: During a recent meeting, the Willmar City Council approved the establishment of a new tax increment financing (TIF) district to support the Water View Senior Housing project. This decision came after discussions about the proposed 26-year term for the TIF district, which differed from the typical 25-year duration. The project, planned by Trident Development, aims to build 75 senior housing units, including 61 assisted living and 14 memory care units, at an estimated cost of $22 million. The TIF district will bridge a financing gap of $2.5 million by pledging 80% of annual . . .
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Doug Reese
City Council Officials:
Carl Shuldes, Thomas G. Gilbertson, Vicki Davis, Stephen Douglas Gardner, Rick Fagerlie, Justin Ask, Audrey Nelsen, Tom Butterfield
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Meeting Type:
City Council
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Committee:
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Meeting Date:
07/15/2024
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Recording Published:
07/15/2024
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Duration:
139 Minutes
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Notability Score:
Routine
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State:
Minnesota
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County:
Kandiyohi County
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Towns:
Willmar
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