The city of Rochester administrative staff has put its support firmly behind the use of tax-increment financing in conjunction with one of the city’s most public development proposals, a Holiday Inn at Second Street Southwest.
City administration spent about three weeks compiling a report that reviewed development issues related to the Holiday Inn development and other development questions in the Second Street Southwest corridor. City Administrator Stevan Kvenvold provided the report to the Post-Bulletin on Tuesday.
“The city staff after that last (Destination Medical Center Corp.) Board meeting took it upon themselves to keep getting some information put together so we could keep continuing and hopefully make some decision for the developer, who has been at it for some time,” Kvenvold said Tuesday.
The developer of the $65 million hotel, Larry Brutger and Brutger Equities, had requested TIF assistance from the city, which required enhanced authority and approval from the DMCC Board. The DMCC Board in December tabled the decision for lack of information and context.
