As the city of Forest Lake Economic Development Authority continues to explore ways it can work to improve the city, the board learned on Monday that it has just under $5 million in tax-increment financing surplus dollars at its disposal. EDA Executive Director Chip Robinson reported to the board that the downtown TIF district has a surplus of $2,079,000 available while the Everton Park district has $2.8 million. The two districts have been combined but the city is yet to formally comingle the funds which must be used for public purposes within the districts. The downtown district also extends west along Broadway Ave. The Everton Park district includes the development west of I-35 and south of Broadway along SW 19th Street. The EDA continues to consider plans for a new downtown redevelopment plan with an eye to Highway 61 south where commercial growth is expected.

Top of Page