(Spirit Lake)– Dickinson county may soon have another Tax Increment Finance District.
The board of supervisors Tuesday authorized the county’s bonding attorney to put together the necessary paperwork leading up to the first step in the process to establish a TIF District in the Shore Acres area on the northwest side of Big Spirit Lake. That part of the process would consist of a public hearing with the various taxing entities that would be affected. A date for the hearing hasn’t been set.
Scott Bauermeister, an attorney representing the Shore Acres residents requesting the TIF District, says the money it would generate would be used to upgrade a road in that area to county specifications.
The cost of upgrading the road has been put at roughly 139-thousand dollars. But County Egineer Dan Eckert says the price of asphalt has risen dramatically since that estimate was put together, and says it could be more like 200-thousand dollars.
Under the proposal, the TIF District would be in effect 10 years.
The supervisors voted five-to-nothing to authorize the county’s bonding attorney to start putting together the necessary paperwork.
