Watertown City Council approves TIF District for new senior center, apartments (Audio)
November 2, 2020
WATERTOWN, S.D.–The Watertown City Council on Monday night approved a Tax Increment Financing (TIF) District for a downtown development project.
It will be called “Generations on First.”
It’ll be located at 26 First Avenue Southwest, and will include apartments and a new senior citizens center.
Fargo-based developer Jesse Craig (pictured left) detailed the project for the council….
A TIF District is a tool used by municipal governments to stimulate economic development in a targeted geographical area.
The total cost of the project is estimated at more than $10.3 million.