Tax Exempt Review Committee - November 23, 2021 Minutes

TAX EXEMPT REVIEW COMMITTEE
Fargo, North Dakota

Regular Meeting Tuesday, November 23, 2021

The November meeting of the Tax Exempt Review Committee of the City of Fargo, North Dakota was held in the City Commission Room at City Hall at 1:00 p.m., Tuesday, November 23, 2021.

The committee members present or absent are:
Present: Dave Piepkorn, Mayor Tim Mahoney, Bruce Grubb, John Cosgriff, Jim Buus, Jessica Ebeling Kent Costin, Erik Johnson, Jim Gilmour, Jackie Gapp, Joe Raso, Robert Wilson

Absent: Levi Bachmeier, Michael Splonskowski

Commissioner Piepkorn called the meeting to order at 1:00 p.m.

Minutes Approved

A motion was made by Kent Costin to approve the minutes from October 26, 2021. Jim Buus seconded, motion carries.

Woodrow PILOT Transfer

• Located at 301/315 University Dr. N and 1222 4th Ave N
• Graystoke Capital Woodrow is requesting to transfer the PILOT tax payment schedule allowed under section 40-57 .1.06 of the ND Century Code: "option to make payments in lieu of taxes for the remainder of the exemption or payments in lieu of taxes period."

A motion was made by Bruce Grubb to approve, Jim Buus seconded, motion carries

Renewal Plan for the K-Mart Site

• Located at University Dr. S
• K-Mart will be coming down starting December.
• Austin from Enclave Development will be developing the site.
• It will improve University Dr. and it will show what redevelopment should look like. It will also allow more retail for University Dr.
• Question by Dave Piepkorn: Will the current Burger King be going away?
Burger King is on a lease and….
•
• TIF on existing property was discussed. Agreed that this is the only way
• The length of the TIF would be 15 years (max). $1.4 million to declare and $50k for administration.
• Question by Jim Buus: What is unique that this project would be qualified as a TIF?
o Brown Field- would have to remove many things to make it a Green Field site.
• Kent commented that this seems like our policies are working.
• Jim agreed and stated that this does meet new and old policies.
• Conclusion, this project would not be feasible without the TIF.
• Made for 70’s big box- 6 million dollar property ($12 a ft.)

Mayor Tim Mahoney moved to approve, John Cosgriff seconded. Motion carries.

Review of Proposals for Downtown City Properties

• Several people are asking for a TIF and some are asking for Renaissance
• 7 Proposals
o 4th & 3rd Ave (401 3rd Ave)
 2 proposals
o Park East Apartments
 3 proposals
o School District Warehouse
 3 proposals
• Jim Gilmour would like to set up a meeting with Renaissance and City of Fargo.

Dave Piepkorn suggested to send out a survey with groups to set up meeting. Mayor Tim Mahoney agree to send out a link to look at proposals.

The meeting was adjourned at 1:28 pm.