City approves smaller TIF – for now

Future financing for Big M awaits county decision

The developer proposing to renovate Minot’s downtown Big M building would need to come up with another $450,000 in private investment under a Tax Increment Financing change approved by the Minot City Council Monday.

However, that change is based on the Ward County Commission upholding its previous 3-2 vote not to participate in a TIF. Discussion on the TIF is on the commission’s agenda at its meeting this morning.

Commissioners have sought more information, including the analysis of a city-hired independent consultant regarding the financial feasibility of the renovation by EPIC Companies, with or without a TIF.

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