Tag: TIF District

Efforts underway to keep EPIC projects alive

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by: MinotVoice  |  

In Minot, two ambitious development projects are finding their footing amidst financial turbulence. The Big “M” building and The Tracks—a mixed-use development near the new Trinity medical campus — are both moving forward despite EPIC Companies’ bankruptcy. There is renewed construction at The Tracks, while leadership of the Big “M” project as working on a

Read & Share   sourced from: Minot Daily News

Minot Projects Spur Questions on TIF Law Interpretations

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by: Josh Wolsky  |  

When should a City approving a Tax Increment Financing District be forced to notify the other local tax entities like school districts, counties, and park districts that they’re going to excuse property taxes for public improvements? And do other tax entities have the right to negotiate their own deals with TIF project developers? Those are

Read & Share   sourced from: Minot Daily News

Billings enters the design phase for a downtown street conversion project

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by: Josh Wolsky  |  

Designs for a downtown Billings makeover are underway. A big part of the project includes a traffic conversion from 1-way streets to 2-way streets that are safer for pedestrians and better for commerce. What’s especially interesting is how Billings plans to pay for the improvements; it’s with a Tax Increment Financing District (TIF). Why does

Read & Share   sourced from: Billings Gazette

Council Says Yes to First Phase of $2.9 Million Epic TIF

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by: Josh Wolsky  |  

This story is a week old but will remain part of ongoing coverage and commentary here on TheMinotVoice.com. In the interim, this article linked below from Jill Schramm at The Minot Daily News can bring you up to speed on the City Council’s approval of a $2.9 million TIF for a mixed-use real estate development

Read & Share   sourced from: Minot Daily News

Questions before granting a $14.5 million tax incentive

by: Josh Wolsky  |  

Let me say at the outset, that I’m a supporter of tax incentives and TIF districts. The TIF district approved for the Big M building was an outstanding use; we the taxpayers would have owned and paid for the demolition of that building had it not been saved through use of a TIF. Sometimes the

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(TIF)Tax Increment Financing Simplfied

by: Josh Wolsky  |  

TIF stands for Tax Increment Financing. In a very simplified way, It works like this. Say you want to put a second-story addition on your one-story house. The second story will add three bedrooms and $100,000 of value to your house. And you know what comes with new value, right? Yep, added taxes. That new

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