Three potential projects in the City of Morris requiring Tax Increment Financing (or TIF) were discussed at this week’s meeting of the Morris City Council. TIF is a financing tool created by the State Legislature to help cities with the development of infrastructure and other projects. East Point Village on the grounds of the old Elementary School would like to expand the number of its apartment units. City Manager Blaine Hill told KMRS of a second project, also near where the old Elementary School was. (Legacy Living wants to add a Memory Care Unit to their facility.)
A third project is from a developer doing the 4-plex along Iowa Avenue, who would like to build more units. TIF was used to help Willie’s Supervalu move to their current location. All three current projects are in the process of discussing legal and financial details with City consultants.