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Friday, October 14, 2016

Prescott City Council approves spending in TIF District No. 5 for new business

The Prescott City Council approved spending in TIF (Tax-Incremental Financing) District No. 5 during its most recent meeting Monday evening to help a business located there.

The votes were taken after the council came out of closed session discussing the new business proposal to go in the Eagle Heights area where UNFI and the new Ptacek's store are located.

The council approved spending $86,000 for a contract with city engineering firm Cedar Corporation of Menomonie for design, engineering, permit applications, bidding, construction engineering, administration, staking and observation. They also approved $5,000 contract with Cedar for grant writing a TEA grant in the amount of $5,000 and contract for economic development planning including tax credit  application in the amount of $5,600  proposed project in TIF #5.

Read more of this in next week's Prescott Journal, on newsstands and in town on Wednesday.

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