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Shakopee city administrator outlines growth, major projects and corporate relocations
Summary
City Administrator Bill Reynolds told the Shakopee school board that the city remains a low-tax community as it approves large developments and anticipates major employers moving into repurposed buildings.
Bill Reynolds, Shakopee’s city administrator, briefed the Shakopee Public School District board on local economic and development news at the April 14 work session.
Reynolds said Shakopee remains "one of the lowest tax communities" in Minnesota among peer cities, and reported the city’s tax base growth rate for 2025 at about 5.5%. He framed that growth as providing capacity for the city and school district to continue services while preserving stable tax rates.
Reynolds described a development pipeline that he said includes 700 apartment units and 1,373 single-family townhomes either on the ground or in process. He highlighted the Canterbury Crossing area as a roughly $450 million investment supported with about $31 million in TIF to pay for infrastructure. The city administrator also discussed a planned 19,900‑seat amphitheater, which he said has expanded from an initial $35 million concept to a $65 million project as designers upgraded the plan.
On business relocations, Reynolds said GN Resound — a Danish company making hearing aids and sound devices — plans to move into the former Shutterfly facility and is projected to employ more than 900 people when remodeling is complete.
Reynolds gave a population estimate for Shakopee in 2025 of just over 50,000 and said new parks and other community amenities are in development. The presentation included remarks about continued demand for housing and commercial development in the city.
Board members asked Reynolds follow-up questions about the tax-capacity figure and whether the pace of growth felt sustainable; Reynolds described tax capacity as the overall assessed value of the community and said he was “very comfortable” with the city’s current pace of growth.
Ending: Reynolds invited board members to contact him or city staff with questions and to continue city–school collaboration on growth and planning issues.
