A resolution that would get the ball rolling on the establishment of an allocation area for purposes of Tax Increment Financing was considered during Monday night’s Plymouth City Council meeting.
City Attorney Sean Surrisi said that officials are currently working to establish a new TIF District for the former Del Monte property that was recently sold to Winona Building Products, LLC.
He said the Redevelopment Commission initially passed a resolution in August, setting the process in motion. The resolutions was then sent to Plan Commission who had to review the proposal to ensure that it conforms with city’s plans for development.
Surrisi noted that while reviewing the City’s 2013 comprehensive plan, he found that it contained a number of references to using economic development incentives to attract innovative new companies and coordinating with the agencies like the Marshall County Economic Development Corporation to attract new employers and promote business.
Surrisi said the resolution that was up for the council’s consideration would indicate that this type of project is in line with the goals of the city’s comprehensive plan.
Winona Building Products Co-Founder Jamie Visker was present and explained that they purchased the facility with the objective of putting capital equipment in there to create a building product space for the insulation industry.
He noted that the product they make would be incorporated into essentially all new construction projects across the country. He added that their company has done something incredibly unique within the industry.
“We’ve specifically taken a product that has to be UL approved for smoke and fire resistance. The only product t in the market today has a number of EPA red list chemicals which are basically things that require special waste permits and are known carcinogens. We’ve specifically developed a product that is UL approved and has absolutely no EPA red list chemicals.”
Additional comments were provided by Winona President Brian Bailey and MCEDC President and CEO Jerry Chavez who spoke about the expected employment opportunities and anticipated benefit to the community. City council members went on to unanimously approve the resolution that confirms this project fits in with the city’s long term development plans.
Todd Samuelson from Umbaugh and Associates was also in attendance to discuss the proposed bond financing for this project. City Council members will address that matter more when they meet next on September 24th.
