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Municipal advisor briefs Wahpeton council on TIF as a possible funding tool for water plan
Summary
Tim Oswald of Piper Sandler explained Tax Increment Financing as an option to help fund Wahpeton's Water Plan Improvement Project but noted the city lacks a TIF district or Urban Renewal Plan; the council agreed to wait for legislative clarity before pursuing TIF.
Municipal advisor Tim Oswald, participating by Zoom for Piper Sandler, briefed the Wahpeton City Council on the mechanics of Tax Increment Financing (TIF) as a potential tool to help fund the city's Water Plan Improvement Project.
Oswald noted Wahpeton currently does not have a TIF district or an Urban Renewal Plan and described why those structures matter if the city later seeks to use TIF. He said it would be prudent to wait for the outcome of pending legislation related to the rollback before committing to a course of action. The council took no formal action on TIF during the March 10 meeting.
City Clerk/Administrator Carrie Funk and council members discussed timing and next steps for water rate work and finance-committee review; no vote or directive to create a TIF district was taken.
