Watertown City Council approves TIF District for new senior center, apartments (Audio)

November 2, 2020
Mike Tanner

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.