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Council approves TIF plan and rezones South Shore site for senior living development
Summary
Detroit Lakes authorized a TIF plan to support a proposed South Shore senior living project (roughly $56 million development, $6–8 million TIF request) and adopted rezoning and related ordinances to allow the project to proceed; the development agreement and final TIF amount remain to be negotiated.
The Detroit Lakes City Council approved a tax increment financing (TIF) plan and adopted zoning changes to clear the way for a proposed South Shore senior living development.
City staff Hope presented the TIF plan and said the developer’s project is estimated at about $56 million and that the TIF request is for $6 million to $8 million. "Our annual estimate of what this overall taxing jurisdictions would receive is about $1,100,000, with an overall maximum of $11,600,000 in the 26 years," Hope told the council while explaining that the 26-year term is the state statute maximum and that Detroit Lakes historically does not run TIF the full term.
As part of the same agenda sequence the council gave second reading and adopted Ordinance 550 to rezone 565 South Shore Drive from R-2 (one- and two-family) to R-4 limited multifamily to accommodate the senior living facility; a council member noted the project will include about 165 residential units and about 90 independent-living units. The council also adopted Ordinance 551 updating accessory and conditional uses in business districts and approved the ordinance summary as required by procedure.
Council members voted to adopt the TIF plan and approve the rezoning and ordinance actions by voice votes after committee recommendations. The staff and council emphasized that the actual development agreement — which determines the exact amount and timing of city assistance — will be negotiated and brought back to the council for approval.
Next steps: city staff will finalize the municipal development agreement and any interfund loan terms, present detailed taxable market value estimates and the development agreement for council approval, and implement the TIF plan if and when the development agreement is executed.
