Council approves TIF development agreement for Squaw Creek Crossing parcel with one abstention
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Summary
The council approved a development agreement with Squaw Creek Crossing Inc. authorizing a 12‑year tax‑increment finance incentive capped at $625,000 for a two‑restaurant project on East Town Crossing; one council member abstained.
The Marion City Council approved a development agreement with Squaw Creek Crossing Inc. on Dec. 16, authorizing annual appropriation of tax increment finance (TIF) payments and pledging certain TIF revenues to fulfill the agreement. The incentive is structured as a 12‑year sliding scale with a maximum payment of $625,000 and applies to a parcel in the East Town Crossing development intended for two restaurant tenants.
Staff summarized prior actions on the East Town Crossing development, including earlier agreements covering the hotel and a Freddy’s restaurant, and noted the parcel under consideration would leave one remaining parcel in the MOU. Staff told council the redevelopment team and the developer representative, Mike Esker, were present for public questions; no public testimony was offered during the hearing.
Deputy mayor Pro Tem moved approval and the motion passed by voice vote with one abstention recorded. The agreement authorizes annual tax increment payments as specified in the development agreement and is now approved to proceed.
