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Huron creates TIF District No. 8 to support proposed Comfort Inn hotel in Southtown
Summary
The commission approved Resolution No. 20 2507 creating Tax Increment Financing District No. 8 to facilitate infrastructure for a proposed 74‑room Comfort Inn & Suites in Southtown; staff estimated about $108,000/year in property taxes from the hotel and $1,000,000 in TIF proceeds on completion.
The Huron City Commission on Nov. 24 approved a resolution establishing Tax Increment Financing (TIF) District No. 8 to support infrastructure for a proposed Comfort Inn & Suites on a roughly 2.6‑acre parcel in Southtown.
Ted Hader of the Greater Huron Development Corporation presented the TIF plan and described the public purpose: to expand lodging capacity to help host high school and other tournaments and attract larger events to the Huron Arena and event center. Hader said the proposed development is a three‑story, 74‑room Comfort Inn & Suites and that a conservative consultant estimate shows the hotel generating roughly $108,000 a year in new property taxes; the developer has identified approximately $1,000,000 in TIF proceeds available upon project completion.
Hader and staff outlined the TIF boundary, which includes the hotel parcel and an adjacent Walmart outlot owned by the same developer to ensure contiguous TIF territory. The TIF would be used for public infrastructure such as dirt work, sewer, storm drainage and related design and land acquisition costs; staff noted the TIF can last up to 20 years or until infrastructure repayment and that phasing of tax relief to the developer would occur over seven years as described in the presentation.
Commissioners asked about boundaries, legislative scrutiny of TIFs, assumptions behind revenue projections and the timetable for construction (bidding and design in winter, construction starting in spring, roughly 12 months of construction with an expected opening targeting the 2027 fair/season). The resolution was approved by roll call and will be forwarded to the Department of Revenue for formal processing.
Next steps include final design and bidding, a developer waiver of the discretionary tax‑phasing formula as part of the TIF agreement and periodic reporting to the commission as the project advances.
