At Tuesday’s Shakopee City Council meeting, we approved Tax Increment Financing to bring Affordable Senior Care to Shakopee. This is a great opportunity for seniors to live in Shakopee that may otherwise be forced to leave to another town for this type of facility. The project wouldn’t be possible without the support of Scott County and the Shakopee School District.
Trident Development is in the final planning stages of building an 80 unit assisted living/memory care facility south of the SACS school. This is a little different type of TIF than the SanMar project, which requires job creation. By approving $1 million in TIF assistance, we require the facility to have at least 20% (16) of the units available to persons with incomes at or below 50% of the median income in Scott County. While job creation is secondary in this project, we anticipate 31 new jobs coming to town as well as adding significantly to our tax base.
Here is a press release that went out this morning.
Have a great day!