County schedules Oct. 7 public hearing on TIF district for Valley Hardwoods expansion

Morrison County commissioners voted to schedule a public hearing on Oct. 7 to consider creating a tax-increment financing (TIF) district for Valley Hardwoods, which plans an expansion and a new building on its property near Royalton. Auditor-Treasurer Shannon Coyle said the RDFA (rural development/finance authority) had voted to approve creating the new TIF district and asked the county to call the public hearing so the company could begin construction in early October. Commissioner Blaine and others described the project as a roughly $1.2 million private expansion intended to add employees; Blaine said the applicant is not seeking county cash beyond the standard TIF process. The board moved to hold the hearing and to advertise it for 9 a.m. on Oct. 7; staff noted another public hearing (naming a geological feature) is scheduled the same day and that the county board meeting start time permits scheduling the hearing early on the agenda. Why it matters: A TIF district captures future tax increments from a new investment to finance eligible project costs; approving a public hearing begins the public-process steps for a TIF and allows community input. What the board decided: The board adopted a resolution to call the public hearing and directed staff to advertise it; no final TIF decision was made at this meeting. The hearing will be advertised and held Oct. 7 at 9 a.m.