TIF District #4, The Streetscape Task Force, and Downtown Parking
Wednesday, October 5th, 2011
In April of 1986, the Northfield City Council voted to create a Municipal Redevelopment District in downtown Northfield within which improvement projects could be funded with tax increment financing (TIF). The TIF district became known as Municipal District #4 and included a couple dozen parcels located in the C-1 and C-2 zoning districts, Downtown Core and Downtown Fringe. The money would be generated by the amount that future property taxes increased over 1986 levels and the district would have a 27-year life, sunsetting in 2013.
The City Council wanted the funds to be used for improving streets, repairing the river wall by the Ames Mill dam, and building a public parking lot as well as other downtown improvements to be planned later. The limited supply of parking downtown and its threat to economic vitality had been documented since the 1978 University of Minnesota Northfield River Corridor Plan and was subsequently corroborated by the 2001 Walker Parking Study. (more…)



