On Monday, the City Council considered a modified and enhanced property tax exemption policy for redevelopment projects in Moorhead. The new incentive was referred to the EDA Board for a special meeting to address further details. This policy would provide a stronger competitive playing field for Moorhead in relation to Fargo’s Renaissance Zone and other incentives on the North Dakota side.

Moorhead and Minnesota have great qualities and characteristics that make our community a great place to both live and land business operations. However, we continue to be at a disadvantage with several aspects of North Dakota, downtown redevelopment being one of them. Our modified incentive policy would provide a business/private investor a longer property tax exemption term for redeveloping blighted and stressed areas of the City. These businesses may receive double the term from the current policy.

New business brings jobs, people, kids, economic influx, and shopping power which all bring a need for new schools and infrastructure. Incentives are a temporary relief for a business choosing Moorhead and the idea is the economic impact is not temporary for decades to follow.

You may see the proposed incentive policy in the City Council packet by following this link to Agenda Item #24:

http://www.ci.moorhead.mn.us/government/mayor-city-council/council-meetings

Stay tuned for final details.

See you around town!