66.1 F
Thursday, June 13, 2024

County weighs abatement options

How to spark economic development continues to be front and center for Cottonwood County Commissioners.

At Tuesday’s meeting, the board continued its discussion on the request it received last week from the Mt. Lake Economic Development Authority, seeking a nine-year tax abatement for the pending hotel project in the city’s business park.

The nine-year request would give the commercial abatement program similar terms to tax increment financial districts.

Commissioners expressed concern over the length of the proposed abatement. The county’s current commercial abatement program calls for a graduated scale, with 80% abatement in the first year, 60% in the second, 40% in the third and 20% in the fourth.

A public hearing to get input on the tax abatement request for the hotel project is scheduled for 8 a.m. on Aug. 29.

More from Tuesday’s meeting appears in the Aug. 16 print and e-editions of the Citizen.

- Advertisment -