Tax increment financing district agreement on City Council agenda

The Bemidji City Council will discuss tax increment financing for a new housing development during their work session Monday.

According to a memo from City Manager Nate Mathews, Mountain View Meadows is seeking a TIF district for a three-phase construction project.

The development would offer numerous single-family and multi-family units with income limits to address the city’s affordable housing needs.

A tax increment financing district is a tool a municipality can offer to developers to invest in a development by capturing property tax revenue from the new property.

No formal action is expected to take place during a work session, but the council will be able to discuss expectations for the agreement with the developer.

Larissa Donovan is the News Director for the stations of Paul Bunyan Broadcasting and has been, almost without interruption, since Election Day 2016. She covers all the beats in north-central Minnesota, such as local government, crime, education, environment and social issues. She studied communications at Bemidji State University. You can follow along with Larissa's live tweets of meetings and events on Twitter!

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