The City of Minot is moving to recoup $350,000 in taxes tied to a southwest development that never lived up to its end of a Tax Increment Financing agreement. After progress at The Tracks stalled—and developers signaled they won’t build the promised[...]
Tag: TIF District
News |
Stalled southwest project puts city TIF incentive in question
A once-promising development on Minot’s southwest edge has hit a wall. The city says The Tracks project — a high-profile EPIC Companies venture near Trinity Health — has defaulted on its tax incentive agreement and stalled midstream. What began as a vision[...]
Curio |
It’s a bird! It’s a plane! It’s Super TIF! An Advisory Committee Forms up in Great Falls
Great Falls is forming a new “super TIF” advisory committee — not by choice, but by state law. The group will review funding proposals for the city’s five tax increment financing districts, which use rising property values to fund local improvements. Supporters[...]
News |
Buyer sought for Minot’s eight-story Big M building
Minot’s iconic “Big M” building—a vacant, eight-story former bank—has been stripped to its shell and relisted for sale. EPIC Companies bought it in December 2021 and began converting it into mixed-use space but filed for bankruptcy last year. The city and school[...]
News |
Efforts underway to keep EPIC projects alive
In Minot, two ambitious development projects are finding their footing amidst financial turbulence. The Big “M” building and The Tracks—a mixed-use development near the new Trinity medical campus — are both moving forward despite EPIC Companies’ bankruptcy. There is renewed construction at[...]
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News |
Minot Projects Spur Questions on TIF Law Interpretations
When should a City approving a Tax Increment Financing District be forced to notify the other local tax entities like school districts, counties, and park districts that they’re going to excuse property taxes for public improvements? And do other tax entities have[...]
Curio |
Billings enters the design phase for a downtown street conversion project
Designs for a downtown Billings makeover are underway. A big part of the project includes a traffic conversion from 1-way streets to 2-way streets that are safer for pedestrians and better for commerce. What’s especially interesting is how Billings plans to pay[...]
News |
Council Says Yes to First Phase of $2.9 Million Epic TIF
This story is a week old but will remain part of ongoing coverage and commentary here on TheMinotVoice.com. In the interim, this article linked below from Jill Schramm at The Minot Daily News can bring you up to speed on the City[...]
Commentary |
Questions before granting a $14.5 million tax incentive
Let me say at the outset, that I’m a supporter of tax incentives and TIF districts. The TIF district approved for the Big M building was an outstanding use; we the taxpayers would have owned and paid for the demolition of that[...]
Curio |
(TIF)Tax Increment Financing Simplfied
TIF stands for Tax Increment Financing. In a very simplified way, It works like this. Say you want to put a second-story addition on your one-story house. The second story will add three bedrooms and $100,000 of value to your house. And[...]
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