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Mitchell council dissolves TIF district 16 as city administrator presents updated TIF report
Summary
The council approved a resolution dissolving Tax Increment Financing district 16 after staff said the district's indebtedness was paid; the city administrator presented a report on TIF activity and increment growth.
The Mitchell City Council approved Resolution R 2025-64 to dissolve Tax Increment Financing (TIF) district No. 16 after staff reported that the district’s indebtedness had been paid in full.
Council staff member Bethany (first name used in the staff report) told the council the remaining funds from TIF No. 16 would be paid out following dissolution. The council voted to approve the resolution; no votes against were recorded.
Following the resolution, City Administrator Stephanie presented an updated report on TIF activity in Mitchell. She said the city had approved 38 TIFs since 1995, including 18 approved since 2001 and 12 approved in the most recent period (nine in 2024 and three so far in 2025). The report showed total increased value generated by TIFs of $113,570,541 and noted that 26 TIFs remain active in the city: 21 classified as economic development, one as industrial and four as affordable housing.
Stephanie told the council that 13 previously approved TIFs were dissolved early because they paid off ahead of schedule, a development she said was positive because it returns funds earlier to taxing entities. She also noted one remaining overlapping county TIF after the dissolution and that the Department of Revenue’s annual valuations can lead to negative increments in some years when assessed values are adjusted downward.
Resident Steve Simpson commended the report and asked why certain TIFs ended early; a council staff member said answering that question in detail would require more research but agreed that valuation assumptions at approval can affect increment calculations over time. The council approved the resolution and then moved into an executive session later in the agenda; no further action on the TIF item was taken during executive session.
The detailed TIF report will be available with maps and per-TIF increment figures, staff said, and the council encouraged members of the public to review it for specifics on individual districts.
