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Fergus Falls council asks staff to draft a TIF policy and framework for an economic development director
Summary
Councilors reviewed examples of TIF policies from other cities and asked staff to prepare a draft policy and framework that would guide future Tax Increment Financing decisions and support onboarding of an economic development director.
Councilors began a structured discussion about developing a Tax Increment Financing (TIF) policy and the potential hiring of an economic development director to manage economic development requests.
Staff presented several sample TIF policies used by other cities and said the purpose is to provide applicants with clear expectations about which projects the city will prioritize and the terms it will seek. "The intent of that policy discussion...is simply to allow applicants when they are looking at the city of Fergus Falls...to give them some direction as to what the council is looking to do," staff said.
Council members discussed policy choices other cities use — owner equity requirements (some examples cited 15–20%), maximum durations (examples ranged 9–20 years), and tying incentives to criteria like living‑wage job creation or blight remediation. Members emphasized the need to balance flexibility with accountability to ensure public returns on TIF investments.
Council asked staff to draft a template policy drawing on the materials provided and return with a proposed framework for a work session, so members can establish criteria such as equity match, duration limits and measurable job or investment targets.
