[{"_1":2,"_110":-5,"_111":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6307785,"mediaKeyId","2428243-e6c6b1a75efe88b2af47d075879bfb6d","parentId",2428243,"title","EDC/FMEDC to present incentives tracking system to EDIC next month","audioSeconds",71,"startMs",2759000,"endMs",2830000,"viewUrl","/Search/View?dp=1&key=2428243-e6c6b1a75efe88b2af47d075879bfb6d&start=2759&end=2830","thumbnailUrl","https://assets.pipeline.soar.com/2428243-e6c6b1a75efe88b2af47d075879bfb6d/thumbnail_2759000.jpg","articleUrl","/articles/6307785/Fargo/Cass-County/North-Dakota/EDCFMEDC-to-present-incentives-tracking-system-to-EDIC-next-month","mediaUrl","https://secure.pipeline.soar.com/6307785-07a0164fe89c86f4d28abab03b0396a4/orig.mp4?Expires=1771011677&Signature=B8pzGigJaOxzDrVRvsCLtceUXBRA8o~viuMFR8wC6ikNMplpF8g0lLMPlFaeuDnwUkijRT4Ol7-T71hwMvBt8EqBPxFtIE9yhqmopnG5DuvoZiP5BwQ0VjmhuqRfB8XKoeKH7XXtX8z1cZqgGYWNRFIbWl~3JGmAYnoDTPM-2t-K3K1f3ika27enz6XDExwqZxzFYPFR4JnKkPJSCgqHrhz7kYzYLiOVIVdYKG6HMAfFjfRAdr5eUz3Ag5ymyaVREDR39AiOBs08l~~1NJk-lPJmwdVSHDuvssecq-XY5LQdOewujS-3gXYxS1yD665w2yVHvNxU4m33tF9rrbE~pg__&Key-Pair-Id=KUT5TJCACFTXG","author","City Council of Fargo, ND","date","2025-02-25T00:00:00Z","article","City and EDC staff said they have been coordinating on a shared incentives‑tracking survey and software to centralize documentation of city incentives. The city requested tracking of incentives and has worked with the FMEDC to develop an approach; staff said FMEDC will present the tool at the committee’s next meeting.

Jim Gilmore said the city has been working with FMEDC (also described as FMEDC/EDC partners in the transcript) for the past two years on a survey system to track incentives. Mike (FMEDC) said the organization has software in place and will demonstrate it next month; staff plan to consolidate surveys and produce a joint report for the commission and the committee so both bodies share incentive information and avoid duplicate effort.

Committee members thanked staff and the EDC for the collaboration and said the combined tracking should increase efficiency and improve oversight of incentive commitments. Staff said they will return next month with a demonstration and a proposed reporting format.","mediaType","Video","parentTitle","Fargo City Economic Development Incentives Committee - 02.25.2025","oneSentenceSummary","EDIC members heard that Fargo‑Moorhead Economic Development Commission (FMEDC) developed software to track incentives; staff will present the system at the next EDIC meeting and prepare a joint report to reduce duplicated work between the city and the EDC.","taxTitle","Fargo , Cass County, North Dakota","taxId",2742,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6307790,"Committee debates possible incentives for proposed convention center, leaves options open for RFP",1017,1722000,2739000,"/Search/View?dp=1&key=2428243-e6c6b1a75efe88b2af47d075879bfb6d&start=1722&end=2739","https://assets.pipeline.soar.com/2428243-e6c6b1a75efe88b2af47d075879bfb6d/thumbnail_1722000.jpg","/articles/6307790/Fargo/Cass-County/North-Dakota/Committee-debates-possible-incentives-for-proposed-convention-center-leaves-options-open-for-RFP","https://secure.pipeline.soar.com/6307790-98e09a0a2bbf3aedb003dcb046838dd7/orig.mp4?Expires=1771011677&Signature=S-XOegK4m8WWiNLcsLnJgKnoFUqr9j-JOFESLnXJjVAnrjmun1kSk6qEi-kImu73CInAqt91zzWWRLc4o5k4u2ETQ6Qk3FsjPqyUr8Dtg69~~-KzJB3v8soP1IVypxMJKmf4AZOQTVZe2hgz-d434JYd1tJeaBLjPhWPVRgEXkv4-d-ZzkMwKGr5iIz1guyubnPluH~o544-lciqrwz2HOlXMCWPUfUaHLK5QK8pJggzWoBZ1AAjXwEVoorG1cNUGpblRNGWoMmRpEoZOEerzpsxHJZxws7R5r1HuQKpjnOeJ8jSyg-4cCCvodnxU1z2C~rwYXOQbS-w6OWvxKlNXA__&Key-Pair-Id=KUT5TJCACFTXG","Committee members discussed incentives the city might consider to attract a hotel or related private development tied to a planned city‑owned convention center. The committee did not make a final decision but directed that incentive options be left open in early RFP work.

Jim Gilmore and other staff framed the question for the committee: if the city builds a convention center that is publicly owned and exempt from property tax, should the city create a larger TIF district or otherwise offer incentives to encourage private development—particularly a hotel—adjacent to the center to improve the facility’s viability? Gilmore described several ways the city has provided public assistance in the past, including funding public improvements, issuing TIF notes under a development agreement, and granting targeted tax exemptions to simplify accounting.

Charlie (city commissioner) said leaving a TIF or incentive option available could make proposals more attractive and provide flexibility. Charlie and Jim emphasized that the RFP should be as open ended as practical to encourage creative proposals and that more specific negotiations could occur later when finalists are selected. Committee members discussed tradeoffs, including whether incentives should subsidize hotel construction or be limited to extraordinary public costs such as demolition, structured parking, or expanded meeting spaces.

Committee members described next steps: the city’s convention‑center committee is touring comparable facilities (Saint Cloud and Rochester) and expects an initial RFP draft in the spring; the committee is meeting weekly and intends to engage catering and event professionals to determine kitchen and event-space requirements. Committee members noted the convention‑center tax revenue is designated to the convention center and emphasized that any incentive structure should aim to limit ongoing city operating costs.

No formal vote was taken on a specific incentive package; the committee’s judgment was to keep incentive tools (including potential TIF districts) available as an option in the RFP and to continue developing program details and site analyses.","EDIC discussed whether to permit tax increment financing or other public incentives to support private development—especially a hotel—adjacent to a publicly owned convention center; committee favored keeping the request for proposals open‑ended and exploring options on a site‑by‑site basis.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6307794,"EDIC approves property tax exemption schedule for Cut the Skyline redevelopment near NDSU",720,1000000,1720000,"/Search/View?dp=1&key=2428243-e6c6b1a75efe88b2af47d075879bfb6d&start=1000&end=1720","https://assets.pipeline.soar.com/2428243-e6c6b1a75efe88b2af47d075879bfb6d/thumbnail_1000000.jpg","/articles/6307794/Fargo/Cass-County/North-Dakota/EDIC-approves-property-tax-exemption-schedule-for-Cut-the-Skyline-redevelopment-near-NDSU","https://secure.pipeline.soar.com/6307794-b916e063a26ba1bd5c66b1333346f227/orig.mp4?Expires=1771011677&Signature=hk3mTvqDJrqhZkCO~~X2ucv1qWlbKj1RNWHFT18Ik6IKb5uA8hfswWFJe4Nu8IOlBuT0JeMfyMcCvxdEcCziYEzFxy-bQphDyzDmlJZc9MNEl6A3mAmKXsGp2FPCqOkxJiEzXBFpaQi-xUYVcjP7H7~cobbJs00Lz177p79wtneP-METT05dRKAMgMQgCXkOlZS6br4qQRCUXfQA5vVpY~tnAFm58V44dXggbnjTipTsfnYxaXdlbJFdiTDtz8QpxCeMq42duPAYi-VdKYbqKfxJ7RwNCU0ciKldTnL4l3Ljz45nbrwwmf5PeelysqpPobsF0Ls6AiKbfx9CDnbjMA__&Key-Pair-Id=KUT5TJCACFTXG","The Economic Development Incentives Committee approved a structured tax exemption to support an 80‑unit apartment development on a site formerly occupied by seven single‑family homes near North Dakota State University.

Jim Gilmore described the site and the city’s 2018 renewal plan that identified the area as eligible for assistance. Rohrer’s development group (acquirer) demolished several existing homes after the plan adoption; the developers now propose an 80‑unit building with interior parking. Gilmore said eligible TIF assistance could reach up to about $2.1 million in nominal terms, but when limited to a 15‑year capture period and phased payment the present value was estimated at roughly $1.15 million.

PFM’s Matt Schnacklinburg said his review produced an estimated IRR of about 7.6% without assistance and about 10.7% with assistance; debt service coverage in the first 10 years fell below a typical 1.2x threshold without help and met or exceeded it with assistance.

Shannon Rose Jones of Rose (development team) outlined the project: 88 residential units (a stated mix including efficiencies, one‑, two‑ and three‑bedrooms in the transcript) and parking consisting of 60 interior stalls under the building and 48 surface stalls behind the building, for a total footprint that increases density substantially from the prior seven units. Rose Jones said the developer’s existing student‑housing projects in the area are fully leased and that proposed rents are consistent with those comparable properties.

Gilmore walked committee members through an exemption schedule the developer proposed: the assessor’s current combined value for the seven lots produces roughly $2,700 per year in property taxes now; under the proposed phased exemption the city would receive modest tax receipts in years 1–5 (existing value), then an increasing share in years 6–10 (approximately $63,000 annually), years 11–15 (approximately $126,000), and after year 15 an estimated $252,000 annually as assessed value fully phases in. Staff said the city will document demolition and utility costs from 2018–2025 and credit those documented expenditures against the eligible assistance; if documented costs are lower, the incentive would be adjusted downward.

Committee members asked questions about interior vs. surface parking and demolition documentation. The developer and staff confirmed the parking figures and the city’s process for verifying documented demolition and infrastructure costs. The developer noted two demolished houses included hazardous materials (one former meth lab) discovered during demolition, underlining public‑safety reasons for removing blighted structures.

A motion to approve the exemption schedule and TIF approach carried by voice vote; the transcript records no roll‑call tally. Staff said it will continue to document eligible expenses and finalize incentive details.","The committee approved a multi‑year exemption schedule for an 80‑unit apartment project developed by Rohrer/affiliates near NDSU; PFM presented underwriting showing assistance improves IRR and debt coverage and staff described eligible demolition and utility costs documented under the city’s renewal plan.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":91,"_47":104,"_49":105,"_51":106,"_53":107,"_55":56,"_57":58,"_59":108,"_61":62,"_63":64,"_65":109,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6307799,"Committee approves 10-year tax exemption for Linnan Lofts redevelopment at 2020 Sixth Avenue North",945,55000,"/Search/View?dp=1&key=2428243-e6c6b1a75efe88b2af47d075879bfb6d&start=55&end=1000","https://assets.pipeline.soar.com/2428243-e6c6b1a75efe88b2af47d075879bfb6d/thumbnail_55000.jpg","/articles/6307799/Fargo/Cass-County/North-Dakota/Committee-approves-10-year-tax-exemption-for-Linnan-Lofts-redevelopment-at-2020-Sixth-Avenue-North","https://secure.pipeline.soar.com/6307799-5a37ede9cf9deda58a66ea9a0f180a61/orig.mp4?Expires=1771011677&Signature=lCSEc-EMqEsQMBUrctjjyZD68Tw02Ufx8D3-2FeR65jH59OfkIohFSd2czeWRLHmF616bdbFYrMe-SNbsNBqtV5rSWDzDpuy4rKmKRPX5LufUjGc7caxC~kMM8vSoozjI-ebwZ5YpfEXsHLaTtITgAoYnHazbgFAPUzJP1nAysQdwy8wygLniTrvCdzOVMhb-CvMMz3khv0zslVNbwpcYGxmd1e6sZxof4aoa-if0T5wrTsk9mHcNhIRI-NGZZd-edKFNzV~JFMpTInWL7Z-tUtY38qofgzUYpx4Jkv-0CPvCVL0uWaz-FfVo7wKmk67PplSn0zeU3hxHFN4m8Y8yQ__&Key-Pair-Id=KUT5TJCACFTXG","The Economic Development Incentives Committee voted to approve a property tax exemption covering years 6–10 for a redevelopment at 2020 Sixth Avenue North, a proposal from Linnan Lofts LLC to replace two blighted buildings with a 22-unit apartment building.

City economic development staff presented the application, saying the site contains a boarded single-family building and a six-unit apartment that suffered an upper-floor fire about four years ago and has been vacant. The developer is also pursuing a five‑year Renaissance Zone exemption that would run immediately; the committee-approved action would add a second five‑year exemption covering years 6 through 10 after the Renaissance Zone period ends.

Jim Gilmore, city staff, said the TIF request totals about $487,000 over a 10‑year period; he reported the present value (capped at a 10‑year term) is approximately $347,000. Matt Schnacklinburg of PFM, the city’s fiscal reviewer, said his independent pro forma estimated an internal rate of return (IRR) of about 6.5% without public help and roughly 11% with assistance; debt service coverage rose to a roughly 1.2x level with assistance, meeting a typical lender threshold.

Developer Andrew Hanson, identifying himself as managing member of Linnan Lofts LLC, said the project would place 22 units—primarily one‑bedroom units—on the small footprint with 21 enclosed parking spaces and that the developer intends to retain the property long term. Hanson said demolition and construction costs remain estimates and that the developer had the site under contract, with closing contingent on approvals.

Committee members questioned assumptions that materially affect project feasibility. One committee member asked about the annual appreciation rate used in underwriting; PFM said the city’s standard internal assumption is 2% for comparability across projects, though PFM staff said higher local historic appreciation (averaging about 5% in some neighborhoods over the prior decade) would boost returns substantially. Committee members also raised neighborhood safety and demolition timing; Gilmore said demolition could be made a condition in the development agreement (for example, contingent on starting construction this year) and discussed coordinating with inspections on dangerous‑building enforcement where appropriate.

Gilmore summarized anticipated tax receipts: current combined property tax on the parcel is roughly $2,200–$2,300 annually; Gilmore estimated the redeveloped property could be worth about $2 million in assessed value such that after the exemption period the project would contribute materially higher taxes to local governments.

The committee approved the exemption by voice vote following a motion and second; no roll-call tally was recorded on the transcript.

The developer and PFM remained available to the committee for follow-up documentation and additional underwriting questions; staff said the city would document eligible costs and confirm demolition and utility work before finalizing incentive payments.","The EDIC approved a 10-year property tax exemption tied to a Renaissance Zone incentive for Linnan Lofts LLC to redevelop two blighted buildings at 2020 Sixth Avenue North into a 22-unit apartment building; city staff and a PFM analyst presented financial analysis, and the committee approved the exemption by voice vote.","actionData","errors"]

Article not found

EDC/FMEDC to present incentives tracking system to EDIC next month

Committee debates possible incentives for proposed convention center, leaves options open for RFP

EDIC approves property tax exemption schedule for Cut the Skyline redevelopment near NDSU

Committee approves 10-year tax exemption for Linnan Lofts redevelopment at 2020 Sixth Avenue North