On Monday, Jan. 3, at 6:30 p.m., the planning commission for the Village of Dorchester will meet to consider revisions to a previously approved redevelopment project that will utilize tax increment financing (TIF).
The meeting, which will be held in the Dorchester Community Building, is open to the public. (Unfortunately, the notice has not been published electronically on the village website.)
The area of town under consideration contains property owned by the Farmers' Cooperative, according to the Village's public notice. (See graphic above.) This includes parcels that contain the filling station, co-op parking lot, co-op office building, and grain silos.
For readers who may be unaware, TIF is utilized to help make new development and property upgrades financially viable, beginning with the city government declaring an area as substandard, blighted, and in need of redevelopment.
Under the state's TIF rules, the city government must hold a public hearing and prepare a redevelopment plan, which must show, for example, the boundaries of the redevelopment project area, proposed land uses, population, land and building intensities, changes in zoning, and traffic flow.
Dorchester has used TIF previously for the housing development area in the northwest section of town.
According to the public notice, all interested parties will be afforded an opportunity to express their views at the Jan. 3 meeting regarding the revised redevelopment plan.
A map of the redevelopment area and a copy of the cost-benefit analysis are available at Village Hall.
Developing...