Tax Increment Financing (TIF)
The City of Red Wing and its Port/Housing Authorities have an adopted TIF Policy to further certain redevelopment, renewal and housing related projects. The fundamental purpose of using TIF is to support desirable development that would not otherwise occur “but for” the public’s financial TIF assistance. Public purposes that must be met relate to increasing/retaining jobs, increasing the tax base, meeting specific city development objectives, and enhancing the city’s economic base. A TIF application fee is $5,000, plus any related costs that may be necessary for further specific analysis (i.e., blight determination or financial projections). Project costs that may qualify for pay-as-you-go TIF assistance include:
- Land acquisition
- Site improvements
- Public / On-site utilities
- Demolition
- Relocation
Category: State Incentives, Grants & Loans, Local Incentives
The Minnesota Investment Fund provides grants to help add new workers and retain high-quality jobs on a statewide basis.
The focus is on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality statewide.
To Apply...
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The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.
Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities...
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Making improvements to enhance a building’s energy efficiency has a variety of proven benefits. First, there’s the economic impact of dollars saved on utilities and added value to the property. Additionally, in saving energy, we also reduce carbon emissions and lessen our dependence on foreign...
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MinnPACE, a division of the Saint Paul Port Authority, is the largest provider of PACE financing in the State of Minnesota.
Property Assessed Clean Energy (PACE) is an innovative finance solution for building owners interested in energy efficiency and renewable...
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