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Council approves transfer of Sunset Ridge TIF note amid heated debate
Summary
The Fergus Falls City Council authorized transfer of tax-increment financing funds for Sunset Ridge Apartments to a new LLC after a protracted debate, but not before declining a motion to table for further review.
The Fergus Falls City Council approved a resolution authorizing the transfer of tax-increment financing (TIF) funds tied to Sunset Ridge Apartments from Sunset Ridge Apartments of Fergus Falls, LLLP to Fergus Falls Apartment Developers LLC following an extended debate about the fairness of the transfer and potential taxpayer impact.
Council members spent more than an hour discussing the transfer. Several members asked for additional information and sought to table the matter for a closed-session review; one tabling motion failed on a 5-3 vote. Opponents…
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