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Votes at a glance: EDA recommends Essentia Renaissance Zone, consents to Emory apartment TIF assignment
Summary
At its July 6 meeting the Moorhead EDA unanimously recommended the Essentia Health Renaissance Zone application be forwarded to city council and consented to assignment of the TIF note and redevelopment agreement for the Emory apartment project as the developer moves to permanent financing.
The Moorhead EDA recorded two formal actions on July 6.
Essentia Health Renaissance Zone (Item 7A): The commission moved, seconded and voted unanimously to recommend approval of Essentia Health’s Renaissance Zone application to Moorhead City Council for a public hearing July 13. Staff reported approximately $8.66 million in private reinvestment and requested a 15-year staged property-tax exemption (years 1–5 at 100%, years 6–10 at 75%, years 11–15 at 50%). The EDA’s vote is advisory; final action will be by council.
Emory apartment TIF assignment (Item 7B): The commission consented to an administrative assignment of the TIF note and redevelopment agreement related to the Emory apartment affordable-housing project as the developer (Enclave) moves from construction to permanent financing. The city attorney reviewed and approved the transfer and the EDA provided the requested consent by roll call.
Both items passed on roll-call votes with all listed commissioners recorded as voting yes.
