Commission considers tax districts to accommodate development
Superior is going through changes and the city's plan to build infrastructure for those changes is going to the public in April. The city's Plan Commission on Friday set two public hearings for its April 18 meeting to consider creation of one tax...
Superior is going through changes and the city's plan to build infrastructure for those changes is going to the public in April.
The city's Plan Commission on Friday set two public hearings for its April 18 meeting to consider creation of one tax increment district and expansion of another.
A newly created district would aid in the development of Kestrel Aircraft Co. for its assembly plant at the Head of the Lakes fairgrounds.
The company plans to create 600 jobs in two facilities to manufacture its Kestrel K-350, a single-engine turboprop, largely carbon fiber composite plane designed to carry up to eight passengers and a pilot.
The assembly plant is slated to be constructed next year in the northeast corner of the fairgrounds.
Port and Planning Director Jason Serck said the district -- the city's 12th -- would include about 15 acres of property in the immediate vicinity of the proposed Kestrel assembly plant.
The plan will be available in the City Clerk's Office this week for public review, he said.
The commission is also considering expanding the city's 8th tax increment district on Connors Point where Exodus Machines and another undisclosed business is looking toward expansion.
Exodus Machines formed an alliance with Peoria, Ill.-based Caterpillar to build its wheeled material handling machines for the heavy equipment heavyweight. To meet Caterpillar's production numbers, the company is planning to expand and create 300 new jobs in the next few years.
"TIF 8 has been very successful," Serck said. "However, we need to open it up again and look at amending our budget. We have a couple of projects out there that are in process ... Exodus Machines is one of them."
Serck said the city also may have the opportunity to purchase some land from a private owner out there and additional revenue would be needed for that.
The plan commission meets at 3 p.m. April 18 to consider public testimony for both proposed tax increment districts.