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Mt. Vernon council advances multiple TIF studies and inducement resolutions for housing and hotel sites
Summary
The council approved an agreement with PGAV Planners to study a potential 60-acre TIF near North 42nd Street for a proposed 200–300-unit residential development, set an Aug. 4, 2025 public hearing for a Frontage Road (N.44th) TIF for a proposed hotel/commercial project, and passed inducement resolutions to potentially make project-related expenses reimbursable if TIFs are adopted.
City Manager Nathan McKenna told the Mt. Vernon City Council that the City is pursuing preliminary steps to evaluate and, potentially, create two Tax Increment Financing (TIF) districts. The Council unanimously approved a resolution to retain PGAV Planners to study a potential TIF on North 42nd Street adjacent to Woodglen Acres covering roughly 60 acres; a developer has expressed interest in building between 200 and 300 single-family units composed of duplexes, triplexes and quadplexes if the project is made viable.
McKenna outlined the procedural steps that would follow a favorable feasibility finding: notice to residents within 750 feet of proposed TIF boundaries, a joint review board meeting including other taxing bodies, and a public hearing process. On that schedule the Council also approved a resolution establishing the time and place for a public hearing on the Frontage Road (N.44th Street) TIF for a hotel and future commercial development; the public hearing was set for Aug. 4, 2025. McKenna said the public-notice and joint-review steps will take place over the subsequent 3–4 months before the Council could formally adopt a TIF.
The Council also passed an inducement resolution tied to the N.44th Street Frontage Road feasibility study to allow any city expenses incurred in advancing the TIF to be eligible for future reimbursement from the TIF fund if the project completes. Separately, the Council approved an inducement resolution with KRP Properties, LLC to make eligible expenses (including purchase price and professional service fees) incurred after adoption reimbursable if the 42nd Street redevelopment proceeds. Each resolution passed with yeas from Gliosci, Moore, Tate and Young and the mayor absent.
These actions begin the planning and statutory-notice steps but do not by themselves create TIF districts or authorize tax-increment expenditures; those would require additional hearings, the formation of a joint review board and subsequent Council action.
