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Hibbing council approves $500,000 interfund TIF loan, land purchases and next steps for surplus properties
Summary
The council approved an interfund loan tied to a tax increment financing (TIF) district for the 400 block redevelopment, authorized acquisitions from the land acquisition fund and opened a surplus‑property redevelopment process for the former Nortek site.
The Hibbing City Council on Wednesday approved a series of land‑use and financing steps: a $500,000 interfund advance for tax increment financing related to the 400‑block redevelopment; a $275,000 purchase from the land‑acquisition fund for 402 East Howard Street; a $6,376.94 transfer to the Hibbing Economic Development Authority to cover closing costs for 2810 Diane Lane; and authorization to solicit redevelopment proposals for the city‑owned Nortek parcel formerly considered as a public‑safety backup site.
Community Development Director Miss Solavanti presented the items. On the interfund loan, Solavanti said the advance is “in connection with a tax increment financing district” for the 400‑block project; she later confirmed the amount of the interfund loan is $500,000. The council approved resolution 25‑05‑10 to authorize the interfund loan; Councilor Swiberger moved the resolution and Councilor Hoffman seconded.
On property acquisitions, Solavanti said the $275,000 purchase of 402 East Howard Street, plus closing costs, was reviewed and endorsed by the planning commission as being consistent with the comprehensive plan. Councilors approved the purchase by voice vote. The council also approved transferring $6,376.94 from the land acquisition fund to the Hibbing Economic Development Authority to cover closing costs for a planned acquisition of 2810 Diane Lane, with closing scheduled later that week.
Solavanti said the Nortek parcel at 3215 Fourth Avenue East is surplus to public‑safety needs following work to secure the primary public safety site; the council authorized a request for redevelopment proposals to begin the surplus‑property process. Councilors asked no substantive follow‑up questions on the Nortek notice to proceed and approved the measure.
Why it matters: The interfund advance and land purchases enable planned redevelopment and provide the city tools to assemble and prepare parcels for projects cited in the comprehensive plan. The Nortek surplus and the 402 East Howard acquisition could affect redevelopment patterns in central Hibbing.
Council actions were routine approvals by voice vote. Planning staff will proceed with the redevelopment proposal solicitation and finalize closing paperwork for the named acquisitions.
