New Hampton City Council will take look at TIF rules

The New Hampton City Council last week gave the go-ahead to Precision of New Hampton to begin work on a project that will create more office space at the west-side Industrial Park manufacturer.But the agenda item sparked discussion about New Hampton’s rules that required businesses to receive permission to begin work on projects before development agreements have received final approval.“I just don’t understand if they’re going to do this anyway,” Councilman Bruce Diiro said, “why they come to us?”New Hampton Economic Development Director Tammy Robinson explained that city rules on tax-increment financing are more stringent than state laws. Basically, the city tells businesses that they must receive City Council approval if they plan on working on a project before the final development agreement is approved.— For more on this story see the April 24 New Hampton Tribune.