Wadena County Commissioners: Housing project is hashed over
by Trinity Gruenberg
trinity@inhnews.com
The Wadena County Commissioners held their regular meeting on February 21.
Tax Abatement for
Housing Project
Dean Uselman of the Wadena Development Authority and Mikaela Hout with Baker Tilly presented their plan for a property tax abatement on parcels planned to be used in the housing project.
Uselman explained that the city of Wadena agreed to a tax abatement on the parcels on their end. They have not yet determined what the funding gap will be.
Hout reviewed financing and tax abatement in a presentation. The current development cost is approximately $3 million for the housing project which includes the acquisition of the property and installation of the infrastructure. The upfront portion of the financing would come from the city and the EDA through an inter-fund loan. The future tax abatement revenues would repay the loan. . .