The November 24th Two Harbors Council meeting began with a public hearing on a proposed amendment to the city’s business subsidy agreement. For those who are not familiar with a business subsidy agreement, it is a legally binding contract between, in this case, the city of Two Harbors and Vision Incorporated of Superior, for the land sale and development of a three-story, 75-unit apartment complex, which will be known as North Shore Flats. The complex will be located near August Omtvedt Boulevard and 15th Street. North Shore Flats will feature market-rate studio, one-bedroom, and some two-bedroom units, as well as covered, heated parking and a community gathering space. The Lake County Housing and Redevelopment Authority will be including some low-income apartment units in the plan, and it is hoped that the complex will free up some of the area’s housing stock by appealing to senior residents who are looking to downsize.
When completed, North Shore Flats will go a long way toward addressing the city’s critical need for affordable housing and will attract families wishing to move to the area. Both the Lake Superior School District, the City of Two Harbors, and other area businesses have lost needed employees due to the fact that there is no available, affordable housing in the area.
Vision Inc. will be putting $15 million into the $17 million project. The City, Lake County, and the Lake Superior School District have agreed to a tax abatement financing plan with Vision Inc., which will allow a portion of the taxes that Vision will pay to go toward offsetting their costs of developing the project. Site preparation for the project is scheduled to begin in January, and construction will start in the Spring.
In other news, Jacy Rinne has been hired as the new Building Maintenance Custodian. The City has received a $190,000 grant to help address the Emerald Ash Borer problem. 56 Ash trees will need to be removed, but the plan is to plant more trees than the number that will be removed.
Truth in Taxation will be scheduled at the next Two Harbors Council meeting on December 8th at 5:30 PM.
