Tax Exempt Review Committee - October 26, 2021

TAX EXEMPT REVIEW COMMITTEE
Fargo, North Dakota

Regular Meeting Tuesday, October 26, 2021

The October 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, October 26, 2021.

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

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

Minutes Approved

A motion was made by John Cosgriff to approve the minutes from October 5, 2021. Jim Buus seconded, motion carries.

Report on Tax Increment Financing Districts

• TIF values increase considerably
• Cleans up brownfield sites
• Mike Redlinger explained that Tischler will be doing a comparative analysis based on what Fargo does relative to other comparable size markets. Their initial analysis is that they think Fargo is in the ballpark.

J-Street Properties TIF Request

• Located at 1418 1 Ave N & 19 14 ½ St N
• A fire destroyed the current building about a year ago
• Mark Bjornstad stated they would like to build a 90 unit apartment building and would make the area a more block feel, that would be walkable/usable.
• Kevin Bartram stated that they are looking at enclosed parking on the first floor with apartments above.
• They will acquire the building in its current state, so the TIF would be for demolition and clean-up of the site.
• The enclosed parking will not be assigned parking.

Jim Buus moved to approve, John Cosgriff seconded. Motion carries.

Consideration of a Renewal Plan for the NP Avenue Parking Lot

• Site located at 636 Northern Pacific Ave N, City owns about 60%, 40% is owned by Global Development LLC
• Global Development would be redoing the Herbst building into a hotel or entertainment venue
• There would be housing of 150-200 units
• Parking would be between 500-600 parking stalls on that site
• Early in the process and don’t have any costs at this time
• The recommendation would be to have staff work with private developers to draft a renewal plan for the redevelopment of surface parking in the 600 block of NP Avenue

John Cosgriff moved to recommend to the City Commission that staff begin work on the development plan for the area in question. Jim Buus seconded the motion. Motion carries.

The meeting was adjourned at 1:47 pm.