Council planning panel approves TIF boundaries and project plan for proposed Peacefield Pines senior living facility

The Mitchell Planning Commission approved a motion recommending boundaries and the project plan for Tax Increment Financing (TIF) District No. 43, a proposed economic-development TIF to support a senior living facility called Peacefield Pines Senior Living.

Staff described the proposed facility as a 59,000-square-foot building with assisted-living, independent-living and memory-care units (staff listed 21 assisted-living units, 18 independent-living units and 16 memory-care units), plus shared amenities including dining, lounge, exercise space, theater and salon. The site is a currently vacant lot that staff said has a present tax value of about $26,040 and an estimated post-project tax value shown in the packet.

Staff described TIF-eligible costs and the project budget; packet figures discussed during the hearing included multiple totals and a staff statement that the total project is estimated at roughly $13,000,000. Staff said the developer is requesting a multi-year TIF amount (figures cited in the packet included several closely related totals: an item labeled about $2,893,558 as the total increment over 20 years and a developer-requested assistance figure presented in the packet in the roughly $2.08 million range). The city would be the pass-through for developer reimbursement and staff said the city would include an administrative amount (the packet listed $375,000 for city administration costs). Department of Revenue provided a preliminary letter indicating the project meets state criteria for an economic-development TIF, staff said.

Commissioners confirmed the parcel has already been annexed to the city and that rezoning to the project's planned PUD is pending council readings; staff said rezoning and TIF approval would be considered concurrently at the upcoming council meeting. Following staff presentation and brief discussion, the commission approved both the proposed TIF boundary and the project plan by roll-call votes recorded in the minutes.

Roll-call votes on the boundary motion recorded members as voting yes except one abstention: (as recorded) Gonko: yes; Hamlet: yes; Oscar Lou: yes; Scherz: yes; Sunny: abstain; Genslinger: yes. The subsequent vote to approve the project plan was also recorded by roll call (recorded votes included Pavlik: yes; Osterloop: yes; Chair: yes; Sunny: abstain; Dunkel: yes; Genslinger: yes). The record shows both motions carried.