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Little Falls adopts 26-year TIF district for Community Asset Development Group project
Summary
The Little Falls City Council voted to adopt Resolution 2025-08 on March 3, 2025, establishing Tax Increment Financing (TIF) District 47 to support the Community Asset Development Group’s Phase 2 project.
The Little Falls City Council voted to adopt Resolution 2025-08 on March 3, 2025, establishing Tax Increment Financing (TIF) District 47 to support the Community Asset Development Group’s Phase 2 project.
City staff said the TIF district covers two parcels tied to the developer’s Phase 2 work and would allow the city to capture tax increment and use it to support development activities. Jason from the Downtown Development Authority told the council the plan is a 26-year district and the TIF budget “sets about a $3,000,000 $3,600,000 TIF collection over that 26 year requirement.”
The resolution establishes the city’s authority to use increment under the TIF plan; a separate development agreement that will spell out the specific relationship with the developer — including any 15-year arrangement discussed previously — was not ready for this meeting and will be brought to a future council meeting, Jason said.
Councilmembers asked questions during the public hearing about duration and flexibility. Jason said the longer decennial length gives flexibility to support later phases, and that if the city and developer agree to a shorter developer agreement the council can decertify the TIF early.
The council approved the resolution on a roll-call vote. The motion was moved by Councilmember Glaze and seconded by Councilmember Hansen; roll call recorded affirmative votes and the resolution carried.
Background: staff said the TIF plan includes income restrictions requiring 20% of units to meet affordability qualifications and that the final development agreement will disclose the exact dollar amounts and term the developer would receive. The TIF plan itself governs the city’s use of increment; the development agreement will set the developer’s specific benefits and obligations.
Councilmembers and staff repeatedly noted that the development agreement will return for council consideration when it is finalized, and that the TIF adoption tonight is the initial step to allow use of increment pending that later agreement.
Votes at a glance: Resolution 2025-08 establishing TIF District 47 — motion by Councilmember Glaze, second by Councilmember Hansen; outcome: adopted (carried on roll call).
