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St John Town EDC approves TIF bond authorizations for four development projects
Summary
The St John Town Economic Development Commission on a voice vote approved resolutions authorizing tax‑increment revenue bond issuances (developer‑purchased) for four projects — a 120,000 sq. ft. mixed‑use commercial project, a bank branch, and two residential developments — while residents raised objections about developer-paid infrastructure and zoning changes.
The St John Town Economic Development Commission voted on a series of resolutions authorizing tax‑increment revenue bonds to support four development projects, each to be repaid from taxes generated by the projects and not by other town funds.
Tom Everett, bond counsel with Barnes & Thornburg, told commissioners the largest project — identified as the SWAA commercial project and proposed by LBL Development LLC — would consist of roughly 120,000 square feet of retail, office and restaurant space and is projected to create about 60 temporary jobs and 65 permanent full‑time jobs. Everett said the town would be asked to authorize bonds up to $15,000,000 as a maximum not‑to‑exceed amount; he added the municipal advisor and town will determine actual issuance amounts and stressed that "the bonds would be payable solely from the new taxes generated by the project, and would not be, payable from any other funds or taxes of the town." (Tom Everett)
Why it matters: The resolutions authorize the town to support project infrastructure by pledging only incremental tax revenues tied to each development. That limits direct taxpayer liability, but residents at the hearing argued the community bears indirect risk if projects underperform or if the public benefit is unclear.
The commission also heard presentations on three additional projects: a Boyer Allocation Area project in which developer SJ 9301 LLC would build a Wind Trust Bank branch (estimated 40 temporary and 17 permanent jobs) with bonds up to $1,000,000; a Castle Rock residential plan from Ham's Lake Development Inc. for about 60 single‑family homes (bonds up to $5,550,000; residential TIF term limited to 20 years under the statute); and a Park West residential project from LBL Development LLC for about 156 attached single‑family units (bonds up to $5,500,000; 20‑year limit for residential TIF). Everett gave the same structural explanation for each project: bonds would be developer‑purchased and payable only from the new taxes generated in the project's allocation area.
During public comment, resident Doug Blocker repeatedly objected to issuing bonds for residential projects, saying the developer should pay for water, sewer and road improvements rather than rely on tax‑increment financing. He also questioned whether some properties qualified as economically distressed and criticized prior zoning changes that allowed higher density. Blocker said, "I feel that the developer should be responsible for paying all infrastructure improvements" (Doug Blocker). By contrast, Matt Rohrer, president of the Mill Creek Homeowners Association, said the practice is "very standard" and that LBL has been a good neighbor during construction (Matt Rohrer).
What the commission did: After closing public hearings, the commission moved through five resolution adoptions (EDC 2026‑01‑28 a–e). Each motion was made and seconded and carried by voice vote; recorded individual tallies were not specified on the record. The motions authorized the town to proceed with the necessary proceedings and documentation to issue tax‑increment revenue bonds for the projects described.
Next steps and context: Staff and the municipal advisor will determine final issuance amounts, interest terms and other financing details and will report those specifics back to the commission and the public. Several residents requested follow‑up information on prior bond issues and on the exact financing terms. The commission adjourned after adopting the resolutions.
(Reporting note: Quotes and attributions are drawn from the public hearing statements by Tom Everett, Doug Blocker and Matt Rohrer as recorded in the meeting transcript.)
