Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Commission authorizes quitclaim deed for South Commercial Lot 2D; transaction tied to Southtown TIF work
Summary
The commission approved a quitclaim deed and certificate of real estate value for South Commercial Lot 2D and authorized the mayor to sign; staff said the transaction continues prior TIF work related to Southtown and a hotel, after which Greater Huron (private developer) will proceed and funds will flow to Greater Huron then to the city.
City staff presented a quitclaim deed and certificate of real estate value for South Commercial Lot 2D and asked the commission to authorize the mayor to sign to continue a tax increment financing (TIF)–related process. Staff identified the action as a continuation of prior TIF projects tied to a hotel and activity in the Southtown area and said that after the city’s portion is complete the private developer (identified in the transcript as Greater Huron) would take over.
Barry Cranston and Ted Hader were present for the item. Cranston noted the transaction proceeds will go to Greater Huron and then to the City of Huron “when everything is done,” per the transcript. After discussion the commission moved, seconded and approved the quitclaim deed and certificate of real estate value by roll-call vote.
Next steps: staff will execute the deed as authorized and continue coordination with the developer on the TIF-related development steps.
