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 events and issues in north-central Minnesota, which include local government, crime, courts, education, environment, and social issues. She studied communications at Bemidji State University and received her degree in 2018. Larissa, native to the great state of New York, grew up in Bemidji and enjoys spending her spare time with her son Logan, daughter Brigid, and pets Vincent and Piper. She also loves reading, Star Trek, and gardening... badly.

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