Morris council sets date for TIF hearing
John Timmerman was planning to develop a different property in Morris but when that didn't work out, he moved on to another property, he said after the Aug. 28 Morris City Council meeting.
Timmerman has built a four-unit rental complex on Iowa Avenue. He plans to build additional rental units on the property but wants a tax increment financing district from the city before he builds.
The city council agreed on Aug. 28 to set an Oct. 9 public hearing in a proposed new TIF district in the area of Timmerman's planned development.
A TIF district means the new property taxes created by the development are deferred from the city, county and school district for a set period of time. The developer uses money typically spent on taxes to help fund the project.
Although the council set a public hearing for a proposed TIF district, it spent more time discussing where a potential sidewalk could be located. The council said a sidewalk could be located along Iowa Avenue or Imperial Avenue but one was needed especially since University of Minnesota Morris students would be voting at the Minnesota National Guard Armory starting this fall instead of on campus. The council did not decide on which street to build the sidewalk.
Timmerman said in a brief interview on Aug. 28 that there "is opportunity for quality (rental) housing" in Morris. He plans to build more market rate rental units.