First Avenue tax breaks sparks another petition in Mitchell

MITCHELL — A third petition this year is being circulated among Mitchell city voters. Local resident Steve Sibson is circulating a petition to put the Mitchell City Council’s resolution approving Tax Increment District No. 48’s project plan and boundary to a public vote. The council approved the resolution at its Nov. 2 meeting. The tax district is for the Van Buskirk Homes development along First Avenue north of Hitchcock Park, which was previously a mobile home park the city of Mitchell purchased for $1 million. The property within the proposed tax district is estimated to add $6.22 million of taxable value. Of the $1.45 million to be generated by the tax district in its 20-year lifetime, $531,717 in eligible project costs would go toward reimbursing the developer for eligible expenses, while the remaining $923,000 would reimburse the city for administrative costs. Sibson held a public meeting at the Mitchell Public Library Thursday evening on how tax increment financing works.

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