In TIF District # 1 the commission approved the request of The Rees to payment on the project. The pledged funding was $575,000. City Attorney Sean Surrisi said they are finishing up the back wall and on Monday concrete for the stage was poured. He also reminded the commission that The Rees was added to the Stellar application and designation will be announced on December 5th.
In TIF District # 4 the city attorney said he was expecting River Gate South to request their final payment but found they were still waiting on certification of occupancy of the third building. Surrisi said the delay has been caused waiting on the elevator company to state certification.
The financing for Winona Building Products in TIF District # 5 was approved in August. On Monday, November 25th at 5:30 the Economic Development Commission will conduct a public hearing on the financing and the City Council is expected to give final approval. This financing project is similar to Pretzels Inc. where the TIF revenue penetrated from the improvements will be used to pay off the bonds.
TIF # 6 is Centennial Crossings. Surrisi said the secondary plat approval was granted and they expect to break ground on the project as soon as the ground thaws in the spring.