News Flash

City News & Updates

Posted on: April 18, 2019

Get the Facts: Who Would Pay for Downtown Phase II?

Downtown Phase II Logo

Most of the investment in Downtown Phase II would be paid for by the developer. The developer will receive NO TAX ABATEMENTS for this project. 

Currently, the City has invested approximately $10 million in the cost to purchase the land, build a new bus garage for the schools and a salt storage facility for the City, and demolish the current buildings on the property. This City investment will be paid back through taxes generated from the new jobs and houses, NOT from current taxpayers. This form of Tax Increment Financing (TIF) is the same way the City paid for its portion of First & Main.

When completed, Downtown Phase II would generate an additional $1,800,000 in property taxes annually through the new homes, and an additional $700,000 to $1,000,000 annually in income tax from the new jobs created in Downtown Phase II. The income tax from these new jobs provides more General Fund revenues to be used for City services such as roads and stormwater.

Learn more about Downtown Phase II here.

Facebook Twitter Email

Other News in City News & Updates

Scouts Clean Up 2019

Scouts Participate in Park Cleanup

Posted on: May 19, 2019
City Hall Update

City Hall Project History and Status

Posted on: April 26, 2019
tornado

It's Tornado Season!

Posted on: April 18, 2019
Downtown Phase II Logo

Downtown Phase II: Office Space

Posted on: April 30, 2019
Let your voice be heard. (1)

Exercise Your Right to Vote on May 7

Posted on: April 30, 2019
Economic Benefit

Downtown Phase II: Economic Impacts

Posted on: April 24, 2019
Fireworks

Private Fireworks Display 4/27

Posted on: April 26, 2019
2018 ED Year in Review Graphic

Economic Development Year in Review

Posted on: April 17, 2019
Road Closed

Barlow Road Closure Begins April 15

Posted on: April 12, 2019
Downtown Phase II

Hudson's Downtown Phase II Project

Posted on: April 3, 2019
Yard Sign

Where to Place Political Signs

Posted on: March 28, 2019
Statewide Tornado Drill

Statewide Tornado Drill is 3/20

Posted on: March 19, 2019
Sunshine week

It's Sunshine Week

Posted on: March 13, 2019
Morse Road Existing Site

Stormwater Open House is March 20

Posted on: March 12, 2019
owen brown closure

Owen Brown Street Closed Sunday

Posted on: March 8, 2019
WRA Innovation

WRA - Creating an Intelligent Community

Posted on: February 25, 2019
Green on Green Rain Barrel  Workshop

Sign Up for Rain Barrel Workshop March 16

Posted on: February 28, 2019
2019 State of the City

State of the City 2019

Posted on: January 24, 2019