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Council creates Tax Increment District 37 to support Copper Flats project
Summary
Council approved Resolution R2024-50 creating TID 37 to support an Interstate Glass expansion; staff said the project lists $6,769,000 of TIF-eligible costs and a projected $519,347 in increment over 20 years, with internal staff review and Planning Commission steps preceding formal developer commitments.
The Mitchell City Council approved Resolution R2024-50 creating Tax Increment District 37 (Copper Flats) at its Aug. 6 meeting. City staff described the district east of the Pizza Hut on East Havens and said it is structured like recent TIFs used for development projects.
City staff explained the project involves relocation and expansion of Interstate Glass and includes three new jobs as part of the proposed development. The staff presentation listed TIF-eligible project costs totaling $6,769,000 and said the district is projected to generate $519,347 in increment over the 20-year TIF period. Staff also noted developers agreed to waive a discretionary formula and that reporting requirements and internal review precede Planning Commission and council approvals.
Council discussed site constraints, estimated costs (including retaining wall needs and deep sewer connections) and confirmed the internal review process that includes planning staff, engineering and legal review. The resolution was approved by council during the meeting.
Next steps: project-plan refinements, Planning Commission review and final developer agreements as part of the TIF process.
